[Funding alert] Mumbai-based multi-family office Waterfield Advisors raise $6M in equity round
The investment advisory firm helps its clients plan, structure, and manage their family wealth on their behalf as their dedicated family office.
Mumbai-based multi-family office Waterfield Advisors has raised $6 million in a fresh equity funding round, led by a consortium of investors including New York-based Zephyr management LP, TVS capital fund and Gaurav Dalmia of Dalmia group holdings.
The company said the freshly infused capital will be used to augment the advisory platform, acquire high-quality talent, build client-centric technology enablers, and power global expansion. Through its international offices, the company will also seek to advice international family offices on their India allocations.
Waterfield helps its clients plan, structure, and manage their family wealth, exclusively on their behalf as their dedicated family office. As an investment advisory firm, the company has an open architecture platform and works with product manufacturers across AMCs, PMS, and AIF providers.
Soumya Rajan, Founder and CEO of Waterfield Advisors said,
"At Waterfield, we offer a truly differentiated and holistic advisory approach, securing the financial well-being of our clients, covering their investments, legacy and philanthropy. The primary growth capital we have raised will help us to strengthen our first-mover leadership position. I am grateful to our existing investors Amit Patni and Arihant Patni for sustaining their faith in our unique value proposition, and to our new investors for joining our growth story."
Founded in 2011 by Soumya Rajan and Sanjay Teli, Waterfield Advisors claims to have a differentiated model that eliminates all conflicts of interest. The firm now advises more than 60 business families in India, with total assets under advisory of over $3.3 billion. It was also named the 'Best private bank for UHNIs in India' by Asian Private Banker, besides being voted Asia's best investment advisory firm.
As per the Campden Family wealth report, it is estimated that there are around 7,300 single-family offices worldwide that manage $6 trillion, which is larger than the global hedge fund industry. India has less than one percent of this, with only 45 known family offices and the segment is poised for exponential growth over the next 10-15 years.
(Edited by Megha Reddy)