Mumbai-based wealth and asset administration agency Neo Group has raised Rs 500 crore (about $53 million) from personal fairness investor TVS Capital and its associates, in a deal that values the corporate at Rs 10,000 crore ($1.08 billion).

The funding spherical formally locations Neo Group amongst India’s rising record of unicorns, privately held firms which are valued at over $1 billion.

The corporate stated the recent capital could be used to speed up its enlargement and strengthen its providing of “knowledge-driven options” for shoppers.

TVS Capital described the funding as a guess on the evolving wealth administration panorama in India.

“India’s wealth administration trade is at a structural inflection level. Neo combines the 2 hardest issues to construct — belief and expertise — right into a high-quality, institutional franchise. We’re excited to companion with Neo’s crew to construct a category-defining platform,” stated Suraj Majee, principal at TVS Capital.

The deal additionally marks TVS Capital’s first funding within the wealth administration sector. The personal fairness agency, which is at present elevating its fourth fund, has beforehand backed monetary providers and fintech firms together with PhonePe, InsuranceDekho and 5-Star Enterprise Finance.

Neo Group’s chairman and managing director, Nitin Jain, stated the most recent spherical underscored investor confidence within the enterprise.

“Our goal has all the time been to construct a permanent establishment with robust governance, disciplined capital allocation and client-first alignment. The continued participation of high-quality traders reinforces confidence in our platform and our long-term technique,” he stated.

Based in 2021 by Nitin Jain, a former government at Edelweiss Wealth Administration, Neo Group supplies advisory and yield-based funding merchandise to high-net-worth and ultra-high-net-worth people, in addition to household places of work. The agency says it manages near Rs 1 trillion in consumer belongings.

The corporate has raised funds a number of occasions over the previous yr. In February 2025, it secured $20 million from traders together with MUFG and Peak XV Companions at a valuation of about $640 million. This was adopted by a $19 million spherical in August and an extra $25 million funding in November led by Crystal Funding Advisors.

Neo’s asset administration arm has additionally been increasing. It introduced the primary shut of a Rs 2,000 crore personal fairness secondaries fund at Rs 750 crore final yr, with plans to spend money on 12 to fifteen firms throughout sectors resembling monetary providers, healthcare and expertise.