Mumbai-based multifamily office and boutique advisory firm Waterfield Advisors has raised ₹43 crores ($6 million) in an equity funding round led by New York-based Zephyr Management, TVS Capital Fund and Dalmia Group Holdings, as reported by ET.
The funds raised will be used to expand presence across New York, Singapore, and Dubai. A part of the capital will also be used to hire top talent and boosting its technology platform.
After the closure of the latest funding round, the firm will have raised a total of around $8 million so far.
Soumya Rajan, Founder and CEO, Waterfield Advisors, said, “New York is pretty much on the cards before summer of next year. We will also have a presence in London, which may come in a little later. We are trying to potentially solve for the enormous market that is there for potentially India allocation for family offices.”
Founded by St. Stephen’s and Oxford University alum Soumya Rajan and Sanjay Teli in 2010, Waterfield Advisors assists its clients in planning and managing their capital to help secure their financial well-being. The firm offers its services to over 60 prominent entrepreneurs, family-owned businesses and corporate professionals through their offices in New Delhi, Mumbai, Chennai and Bangalore. Currently, the firm has total assets of over $3.3 billion under advisory.
Waterfield Advisors counts the Patni brothers, Arihant and Amit Patni among its early investors. The brothers had first invested in the firm back in 2014. Both the brothers are serving as Directors of Waterfield Advisors.