Neo Group Joins Unicorn Club with $53M Funding

Mumbai-based wealth advisory and asset management company Neo Group has secured ₹500 Cr ($53 million) in funding from private equity firm TVS Capital and its affiliates. The investment values Neo Group at a pre-money valuation of ₹10,000 Cr ($1.08 billion), formally establishing the company as a unicorn.

The latest funding round marks the fourth capital raise for Neo Group in the past year. In February 2025, the company raised $20 million from MUFG, Peak XV Partners, and other investors, valuing the company at approximately $640 million pre-money. This was followed by a $19 million round in August 2025 and a $25 million follow-on funding round led by Crystal Investment Advisors in November 2025.

Founded in 2021, Neo Group provides advisory and investment products to high-net-worth individuals (HNIs), ultra-high-net-worth individuals (UHNIs), and family offices. The company reports managing nearly ₹1 Lakh Cr in total client assets.

Neo Group plans to allocate the fresh capital to accelerate growth and enhance its knowledge-driven solutions for clients, according to a company statement. Suraj Majee, principal at TVS Capital, noted the structural inflection point in India’s wealth management industry, emphasizing Neo’s combination of trust and talent as key to building a category-defining platform.

In August 2025, Neo Assets Management, the AMC arm of Neo Group, announced the first close of its ₹2,000 Cr secondaries PE fund at ₹750 Cr. This fund aims to support 12-15 startups across sectors including BFSI, healthcare, consumer, IT/ITeS, industrials, and services, with cheque sizes ranging from ₹50 Cr to ₹250 Cr per startup.

On the financial performance front, Neo Group saw its revenues increase 2.7X year-on-year to ₹177 Cr in FY24. However, net losses also widened to 3.8X year-on-year to ₹13.7 Cr during the same period. The company has yet to release its FY25 financial results.