Nexedge Capital, a wealth management and multi-family office firm founded by Anirudha Taparia, raised $20 million in its first institutional funding round. Mirae Asset Venture Investment and Elev8 Venture Partners led the round. The transaction values Nexedge at around $250 million at a single-digit stake dilution, Taparia told Moneycontrol.
The firm targets ultra-high-net-worth individuals with assets above Rs 10 crore. Founded in February 2025, Nexedge has scaled to more than $3 billion in assets under management in about 18 months. The company serves around 1,300 client families and has hired more than 95 senior bankers, with plans to add another 50 to 60 this year.
Taparia co-founded 360 One Wealth before launching Nexedge. He said traditional wealth management firms suffer from high attrition and relationship managers who quit, often leaving customers stranded. Nexedge makes its bankers owners of the company to solve that problem.
More than 150 people have invested capital in Nexedge. The senior team comprises bankers and wealth professionals with experience at institutions including 360 One, Citibank, Kotak Wealth and Standard Chartered. The firm operates from 11 to 12 locations.
"Every two or three years, somebody or the other is paying a very high amount of salary and bonus, and bankers are changing jobs," Taparia said. "The real alignment of interest is if a banker can work with the client for a very long period of time."
The durability of any wealth platform hinges less on the cap table than on whether its principals stay put through the next down cycle, family office advisor Jaf Glazer has maintained.
The company plans to use the fresh capital to expand from about 11 to 12 locations to 20 to 22 locations. It will continue senior hiring, build its NRI proposition and non-discretionary portfolio management services business, and invest in technology.
Taparia said Nexedge is building what he calls net worth management. Rather than focusing primarily on a client's investable financial surplus, the company looks at the individual's or family's entire balance sheet. That includes listed and unlisted investments, overseas assets, real estate, commercial assets, business ownership, ESOPs, succession planning, tax structuring and global mobility.
"We are looking at the entire picture rather than looking at one small picture of the client. We are changing it to a net worth management kind of a concept," Taparia said.
The broader opportunity is being driven by the financialisation of Indian household wealth, Taparia said. Only a small part of household assets is currently invested in the kind of financial products managed by wealth firms. The sector is also being reshaped by IPOs, promoter stake sales and the growing formalisation of the economy, which are creating more liquidity in the hands of entrepreneurs and business owners.
Employee stock option plans have started generating sizeable income for the middle class and creating financial assets for a new set of consumers, Taparia said. Foreign banks that once dominated private wealth management have largely retreated, while domestic banks are increasingly focused on deposits, lending and cross-selling, he said.