Waterfield Advisors raises Rs 123 Cr led by Jungle Ventures
The company’s board has approved a special resolution to issue 1,092,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore.
Wealth management firm Waterfield Advisors Private Limited has secured Rs 122.99 crore through a private placement of Series A compulsorily convertible preference shares (CCPS), according to regulatory filings accessed from the Registrar of Companies.
The company’s board has approved a special resolution to issue 1,092,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore.
Singapore-based Jungle Ventures V Investment Holding 1 Pte Ltd emerged as the largest investor, subscribing to 888,099 shares for Rs 99.99 crore. Promoter and director Soumya Rajan acquired 17,762 shares for Rs 2 crore.
Individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh, also participated in the round.
Compulsorily Convertible Preference Shares (CCPS) are a type of financial instrument that automatically converts into equity shares of the issuing company after a predetermined period or upon specific events.
They provide investors with fixed dividends while allowing for potential equity participation, making them a popular choice in startup financing as they help balance the interests of founders and investors while minimizing immediate ownership dilution.
Founded in 2011, Mumbai-based Waterfield Advisors provides bespoke wealth management services to ultra-high-net-worth individuals and family offices.
Edited by Affirunisa Kankudti