Waterfield Advisors, an independent wealth advisory and multi-family office has raised $18 million in a funding round led by Jungle Ventures, a venture capital fund managing assets over $1 billion.
This investment marks a significant milestone in Waterfield’s journey as it continues to scale its pioneering, client-centric wealth advisory proposition in India.
Since its inception in 2011, Waterfield has grown rapidly and now advises on over $5 Billion in assets on behalf of ~375 client groups across seven strategic locations in the country.
The fresh capital will be deployed to enhance the firm’s technology infrastructure, expand its presence across key financial hubs, and deepen client engagement across various segments within India’s affluent demographic.
The deal comprises primary and secondary transactions, with a primary infusion of $15 million. Ernst & Young LLP (EY) acted as the exclusive advisor to the transaction.
Commenting on the development, Soumya Rajan, Founder and CEO of Waterfield Advisors, said: “From the outset, transparency, integrity and client-centricity have been at the heart of everything we do at Waterfield Advisors. Beyond business families, this fundraise enables us to extend our proposition to a broader audience of founders, professionals and women, while also expanding our presence into India’s tier-2 and tier-3 cities and to key markets overseas catering to the Global Indian.
We are delighted to welcome Jungle Ventures as a strategic partner in this journey. Their expertise in helping companies scale their vision and build lasting companies resonates with our core values. “
Jungle Ventures, known for backing high-growth businesses across Asia, sees this investment as an opportunity to capitalise on India’s rapidly evolving wealth management sector.
Commenting on the investment, Arpit Beri, Partner, India Investments at Jungle Ventures, said, “Independent, conflict-free wealth advisory is more important than ever. Waterfield’s leadership in this space positions them uniquely for the next phase of growth, and we are thrilled to back their vision”.
With India’s UHNI and HNI population expanding rapidly, the demand for independent and conflict-free wealth advisory services is at an all-time high. Waterfield Advisors has pioneered institutionalising fee-based, holistic wealth and investment advisory services, ensuring clients receive transparent and unbiased wealth management solutions.
