Veriqus Group has raised INR 387 crore (about US$40 million) in a funding round led by Norwest.
The company has launched an integrated platform combining wealth management, asset management, business advisory and lending services.
Veriqus was founded by Ashish Gumashta, former Chairman and CEO of Julius Baer India, and Roshi Jain, a former Senior Fund Manager at HDFC Asset Management Company.
Jain will lead the asset management business. She previously managed more than INR 1.35 lakh crore across three flagship HDFC AMC funds, including the HDFC Flexi Cap Fund.
The platform will serve high-net-worth individuals, family offices and institutions in India.
Its wealth management business will use technology and artificial intelligence for portfolio analysis, risk monitoring, client reporting and decision support.
Roshi Jain, Co-founder of the Veriqus Group, said,
“At Veriqus, our asset management philosophy combines rigorous fundamental research with a long-term investment approach as we strive to deliver superior risk-adjusted returns to our clients and compound wealth for them consistently.
We are delighted to have Norwest back us in our endeavour to create an institutional grade investment platform embedding deep research, risk management, and technology.”
Ashish Gumashta, Co-founder of the Veriqus Group, said,
“Recognising that India’s next wave of wealth creation is increasingly emerging beyond the largest metropolitan centres, Veriqus intends to build a strong presence across Tier II and other high-growth cities, bringing institutional-quality advice and sophisticated investment solutions closer to entrepreneurs, business owners and multi-generational families.”
Featured image: Edited by Fintech News Singapore, based on image by FestArt via Magnific