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Mumbai-based wealth and asset management firm Neo Group has raised Rs 350 crore (about $36.3 million) in a fresh funding round led by existing investor Peak XV Partners. The Neo Group Rs 350 crore funding comes weeks after the company secured Rs 550 crore from TVS Capital, taking its combined haul from the two institutional investors to nearly Rs 900 crore.
Background: Neo Group’s Rise in India’s Wealth Management Market
Founded by Nitin Jain, Neo Group is an integrated wealth and asset management platform serving family offices, ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs), institutions and corporates.
The company has raised capital in stages. It secured $35 million in a Series B round in October 2023, followed by a $120 million round that included a $48 million tranche led by MUFG and Euclidean Capital in August 2024.
In November last year, Neo raised Rs 221 crore (about $25 million) in a follow-on round led by Crystal Investment Advisors (Atha Group). Around the same time, its private credit arm, Neo Asset Management, marked the first close of its second private credit fund at Rs 2,000 crore.
Key Developments in the Peak XV Partners Investment Round
Neo Group has signed definitive agreements for the Rs 350 crore round, with the transaction expected to close shortly, the company said on July 16.
Peak XV Partners, which backed Neo Group at an early stage, is deepening its commitment through this round. The fresh capital will be directed toward technology investment, expanding the advisory network, and developing new product offerings.
As of June 30, 2026, Neo Group managed approximately Rs 1.3 lakh crore in client assets across its advisory and asset management businesses. The firm also holds nearly Rs 3,000 crore in equity capital and oversees around Rs 50,000 crore of annualised recurring revenue-generating assets.
Note on figures: Reported dollar equivalents for the round range from $36 million to $36.5 million across sources; this article uses Rs 350 crore as the primary figure, per company disclosure.
Headquartered in Mumbai, Neo Group operates in more than 30 cities across India, including Delhi, Bengaluru, Hyderabad, Chennai, Goa and Jaipur, and has an overseas presence in the United States. The company employs over 850 professionals, including more than 150 senior wealth advisors.
Expert Reactions: Nitin Jain and Peak XV Partners on Neo Group’s Growth
Nitin Jain, Chairman and Managing Director of Neo Group, said the fundraise gives the company capital and a long-term partnership to keep building for the future, investing in talent, technology and new product capabilities as it expands its presence across India.
Sakshi Chopra, Managing Director at Peak XV Partners, said that as India’s wealth management market evolves and demand for more sophisticated financial solutions grows, Neo Group stands out for its advisory talent, institutional approach and client alignment, adding that the scale the company has built in a short span reflects strong execution and future opportunity.
What This Means for India’s Wealth Management Industry
The back-to-back rounds from TVS Capital and Peak XV Partners signal sustained institutional investor confidence in India’s wealth management sector, which is expanding alongside the country’s growing base of high-net-worth individuals and family offices.
For Neo Group, the Rs 350 crore funding supports its stated plan to scale technology infrastructure, grow its advisory team beyond the current 850-plus professionals, and widen its product suite across wealth management, private markets, fixed income, global investments, insurance and estate planning.
For the broader industry, continued capital inflow into advisory-led wealth platforms points to rising demand for institutional-quality, technology-backed financial advisory services among India’s UHNI and HNI segments.
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