Neo Group Enters Unicorn Club with $53M Raise from TVS Capital

Nitin Jain, Neo Group Chairman & Managing Director

Mumbai-based wealth and asset management firm Neo Group has raised Rs 500 crore (around USD 53 million) from TVS Capital and its affiliates, valuing the company at Rs 10,000 crore (USD 1.08 billion), according to media reports.

The funding round marks Neo Group’s entry into India’s unicorn club, comprising privately held companies valued at over USD 1 billion.

The company said the fresh capital will be used to accelerate expansion and strengthen its suite of knowledge-driven investment solutions for clients.

TVS Capital described the investment as a strategic bet on India’s evolving wealth management landscape. “Neo combines trust and talent into a high-quality institutional franchise,” said Suraj Majee.

The deal also marks TVS Capital’s first investment in the wealth management segment. The firm has previously backed companies such as PhonePe, InsuranceDekho and Five-Star Business Finance.

Founded in 2021 by Nitin Jain, a former executive at Edelweiss Wealth Management, Neo Group provides advisory and yield-based investment products to high-net-worth individuals, ultra-high-net-worth individuals and family offices. The firm said it currently manages close to Rs 1 trillion in client assets.

Neo Group has raised multiple rounds over the past year. In February 2025, it secured USD 20 million from investors including MUFG and Peak XV Partners at a valuation of about USD 640 million. This was followed by additional funding rounds in August and November 2025, including an investment led by Crystal Investment Advisors.

The company’s asset management arm has also been expanding. It announced the first close of a Rs 2,000 crore private equity secondaries fund at Rs 750 crore, with plans to invest across sectors including financial services, healthcare and technology.

Source: BW Disrupt