Wealthtech platform Veriqus Group has raised nearly $40 million (Rs 387 crore) in a new funding round led by Norwest Venture Partners, per a company announcement on Monday.
Founded by former Julius Baer India CEO Ashish Gumashta and former senior fund manager at HDFC Asset Management Company Roshi Jain, Veriqus Group is building an integrated platform that combines wealth management, asset management, business advisory and lending solutions. The firm is focused on serving high-net-worth individuals, family offices and institutional clients through a unified offering.
Jain, who will head Veriqus’ Asset Management arm, has previously managed over Rs 1.35 lakh crore in assets across three flagship funds at HDFC AMC, including the HDFC Flexi Cap Fund.
“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,” said Ashish Gumashta, Co-founder of the Veriqus Group.
The asset management platform will focus on real-economy insights, fundamental research and disciplined investment strategies to help investors build long-term conviction. Meanwhile, the business advisory and lending verticals will offer strategic capital solutions to support growth, acquisitions and liquidity needs, while preserving long-term wealth creation.
