Synopsis
Nexedge Capital, a wealth management firm for ultra-high-net-worth individuals, is nearing a $25 million funding round. South Korean firm Mirae Asset Venture Investment is expected to lead the investment. This marks Nexedge's first institutional funding. The startup manages significant assets and serves numerous families. It competes with other emerging wealth management platforms in India.Listen to this article in summarized format
This would be the first institutional funding round in the startup which was founded by Aniruddha Taparia, who was a cofounder and joint chief executive officer at 360 One WAM. Taparia quit the Mumbai-based wealth management firm and started this business in March last year. Prior to founding 360 One WAM, Taparia had spent a decade at Citibank.
“There is a lot of excitement around wealth management and investors are scouting for the next big opportunity in the space. Nexedge has pitched for this round on the back of strong early growth and credible founders,” said a senior partner at a venture firm which had evaluated the company.
Emailed queries to Mirae and Nexedge Capital went unanswered as of press time Monday.
According to disclosures made on professional social networking platform Linkedin, the company is managing assets of Rs 23,000 crore and is working with 1,200 ultra-HNI families. The firm has built a team of 175 employees and 82 bankers.
This firm will be competing with other wealth management startups which are building solutions for HNIs as well as premium investors who need specialised investment ideas from dedicated relationship managers. The likes of Dezerv, Centricity, Angel One-backed Ionic Wealth are all building in this sector. Groww is building ‘W’ as a premium wealth management platform targeted at HNIs.
In October 2025, Dezerv raised around $40 million in equity funding from Premji Invest and Accel’s Global Growth Fund along with participation from its existing investors. Entrackr reported earlier this year that Centricity is in talks to raise $30 million in funding from MUFG and Susquehanna International Group.
Mirae is an investor in multiple Indian startups like BigBasket, Shadowfax, Kreditbee and Raise Financial Services (Dhan). It has deployed around $1.5 billion across India, South Korea and China.
The Indian wealth space has seen a number of top executives from traditional or scaled-up financial firms exiting and setting up their own startups. 360 One itself has seen multiple top executives quit the firm to set up their own wealth management play. Sandeep Jethwani, founder of Dezerv and Manu Awasthy, founder of Centricity, were both top executives at 360 One, which was previously IIFL Wealth. Srikanth Subramanian founded Ionic Wealth after stepping down from Kotak Cherry, where he was chief executive officer.
“The company is looking to build in the traditional wealth space but with usage of technology which can bring the service costs down,” said another senior industry executive who is aware of the discussions.
According to its website, Nexedge Capital offers investment advisory, tax planning, investment banking and real estate investment planning. It is also working around building a multi-asset family office, its website says. The company recently set up an office in Ahmedabad, with the target of serving clients in the western state as well.
