Neo Group Bags $53 Mn At Unicorn Valuation
Mumbai-based wealth advisory and asset management company (AMC) Neo Group has raised ₹500 Cr ($53 Mn) from private equity (PE) firm TVS Capital, and its affiliates, at a pre-money valuation of ₹10,000 Cr ($1.08 Bn).
While there appears no clarity on the valuation at which it last raised funds in 2025, the latest round formally pegs the company as a unicorn.
In a statement, Neo Group said that the fresh capital will be utilised to accelerate growth and deliver knowledge-driven solutions to its clients.
“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. We’re excited to partner with Neo’s team to build a category-defining platform,” said principal at TVS Capital, Suraj Majee.
This is the company’s fourth fundraise in the past one year. In February 2025, the company bagged $20 Mn from MUFG, Peak XV Partners, and others at a pre-money valuation of about $640 Mn. The company followed it up with a $19 Mn round in August last year It raised another $25 Mn in a follow-on funding round led by Crystal Investment Advisors in November 2025.
Founded in 2021, Neo Group offers advisory and yield-based investment products to high-net-worth (HNIs), ultra-high-net-worth individuals (UHNIs) and family offices.
The company’s AMC arm Neo Assets Management also announced the first close of its ₹2,000 Cr secondaries PE fund at ₹750 Cr in August last year. With this fund, The Group aims to back 12-15 startups across sectors such as BFSI, healthcare, consumer, IT/ITeS, industrials, and services. It plans to dish out cheque sizes in the range of ₹50 Cr to ₹250 Cr per startup.
On the financial front, Neo Group saw its revenues soar 2.7X year-on-year (YoY) to ₹177 Cr in FY24, while net losses widened to 3.8X YoY to ₹13.7 Cr in the fiscal under review.
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