Waterfield Advisors Raises USD 18 Million in Funding Round

Mumbai, Feb 20 (PTI) Independent wealth advisory and multi-family office, Waterfield Advisors, on Thursday said it has raised USD 18 million in a funding round led by Jungle Ventures.

The deal comprises both primary and secondary transactions, with a primary infusion of USD 15 million, Waterfield Advisors said.

The fresh capital will be deployed to enhance the firm's technology infrastructure, expand its presence across key financial hubs, and deepen client engagement across various segments within India's affluent demographic, it said.

"Beyond business families, this fundraise enables us to extend our proposition to a broader audience of founders, professionals and women, while also expanding our presence into India's tier-2 and tier-3 cities and to key markets overseas catering to the Global Indian," said Soumya Rajan, Founder and CEO of Waterfield Advisors.

He said that Jungle Ventures, a venture capital fund managing assets in excess of USD 1 billion, expertise in helping companies scale their vision and building lasting companies resonates with Waterfield Advisors' core values.

Jungle Ventures, known for backing high-growth businesses across Asia, sees this investment as an opportunity to capitalise on India's rapidly evolving wealth management sector, the company said.

"Independent, conflict-free wealth advisory is more important than ever. Waterfield's leadership in this space positions them uniquely for the next phase of growth, " said Arpit Beri, Partner, India Investments at Jungle Ventures.

According to the company, with India's ultra-high networth and high-networth individual population expanding rapidly, the demand for independent and conflict-free wealth advisory services is at an all-time high.

Since its inception in 2011, Waterfield has grown rapidly and now advises on over USD 5 billion in assets on behalf of around 375 client groups across 7 strategic locations in the country, it said.

Ernst & Young LLP (EY) acted as the exclusive advisor to the transaction, the company said.