TVS Capital Invests INR 500 Cr in Neo Group at INR 10,000 Cr Valuation

Neo Wealth & Asset Management has raised INR 500 crore in fresh capital from TVS Capital Funds and its affiliates, valuing the company at a pre-money valuation of INR 10,000 crore. The investment marks a significant milestone for Neo Group, strengthening its position as one of India’s most institutionally backed and integrated wealth and asset management platforms.

The latest funding round adds to Neo’s existing roster of prominent global investors, including Peak XV Partners (formerly Sequoia Capital India & Southeast Asia), MUFG Bank, and Euclidean Capital, all of whom have supported the firm across multiple funding rounds since its inception. The company said the continued backing reflects growing investor confidence in its long-term strategy and platform.

TVS Capital Funds, a domestic growth private equity firm with nearly two decades of experience in financial services and technology investments, is entering the wealth management space with this deal. The firm believes India’s wealth management industry is at a turning point, driven by rising affluence and demand for specialised financial solutions.

Shyam Srinivasan, Chairman of the FS Advisory Board at TVS Capital Funds, said, “In Greek, ‘Neo’ means new. In Indian wealth management, it may soon mean the standard. Nitin and his team have built something with genuine depth—in advisor talent, in platform rigour, and in leadership clarity. TVS Capital is happy to be part of that story.”

Neo Group currently manages around INR 1 lakh crore in client assets, including INR 50,000 crore in annualised recurring revenue assets under management. Its wealth management arm focuses on ultra-high-net-worth individuals and family offices, supported by a network of nearly 150 senior advisors drawn from leading domestic and global financial institutions.

The firm’s asset management business complements this with investment offerings across alternative asset classes such as private credit, infrastructure, and private equity.

Nitin Jain, Chairman and Managing Director of Neo Group, said, “Our objective has always been to build an enduring institution with strong governance, disciplined capital allocation and client-first alignment. The continued participation of high-quality investors reinforces confidence in our platform and our long-term strategy.”

Suraj Majee, Principal at TVS Capital, added, “India’s wealth management industry is at a structural inflection point. Neo combines the two hardest things to build—trust and talent—into a high-quality, institutional franchise.”

The fresh capital will be used to accelerate growth and enhance its specialised, knowledge-driven client offerings.