By Parth Doshi
“Show me the incentive and I’ll show you the outcome.”
These iconic words from the late Charlie Munger’s 1995 Harvard speech cut closer to the truth of wealth management than almost anything written about the industry since. They explain, in a single line, why so much financial advice quietly fails the very people it claims to serve.
Most of India’s HNI and UHNI families feel this misalignment without ever naming it. The people advising them on their money often have an incentive that isn’t perfectly aligned with theirs.
Nexedge was built to fix that.
We led the first institutional capital raise by the company in 2026.
A multi-decade compounding cycle
As per Deloitte, India’s overall wealth management TAM is projected to expand from INR 92.4 lakh crore at the end of FY24 to INR 193.2 lakh crore by FY29, a ~15.9% CAGR. Within that, the HNI/UHNI segment specifically, which is Nexedge’s focus, is expected to grow from INR 64.7 lakh crore to INR 135 lakh crore over the same period.
The drivers behind that growth are structural:
- A steady pipeline of IPO and liquidity events (M&As) keeps minting first-generation HNI/UHNI clients.
- The wealth that India’s entrepreneurs built is now starting to change hands, for the first time, at real scale.
- Financialisation of savings in India physical to financial assets, with mutual fund AUM-to-GDP at just ~16% in
India versus ~140% in the US.
The business model
Wealth management has some of the best structural economics in financial services, and Nexedge’s model is built to capture that fully rather than partially.
Growth without proportional cost. AUM compounds organically, through mark-to-market growth on existing portfolios and through wallet-share migration, as clients progressively move more of their net worth to a platform they trust. That means Nexedge can grow revenue with the same banker cohort, the same technology infrastructure, and the same operating base.
Stickiness by design. Wealth management is fundamentally a trust business and relationships are tested across market cycles and inter-generational events, and once earned, switching costs are high, both psychologically and operationally. Industry experience suggests only 25-30% of AUM typically moves when a banker switches firms, evidence of stickiness at the platform level, not just the individual relationship.
Optionality without compromise today. Once distribution is solved, wealth platforms can typically add captive product layers such as an AMC, structured products, and private credit.
Nexedge will offer not just wealth management but net worth management – this will not be limited to investment advisory but also include tax planning and structuring, business and corporate advisory, succession and estate planning, global mobility and residency, real estate advisory and credit solutions.
The stellar team
Wealth Management is a trust business and in a trust business, the team isn’t a supporting factor in the investment case; it often is the investment case.
Nexedge was founded by Anirudha Taparia in February 2025, Taparia previously served as Co-Founder and Joint CEO of 360 ONE Wealth, where he helped build the platform from inception into a multi-trillion-rupee, publicly-listed franchise. He is joined by co-founders Sidhartha Shaw, Vijeeta Sharma, and Pankaj Walia and a cohort of 15 founding partners averaging 20+ years across Citibank, Kotak Wealth, 360 One, Standard Chartered, among others.
That’s not a resume line.
Since its launch in 2025, Nexedge has been among the fastest wealth management platforms to scale to over $3 billion AUM in 18 months across roughly 1,300+ clients. It has onboarded more than 95 senior bankers with 50-60 more set to join in 2026.
Why we invested
- A market at the start of a multi-decade compounding cycle
- A business model with structurally high operating leverage
- A founding team with irreplaceable relationship capital
- A structurally differentiated, conflict-free model
What we’re betting on
Wealth management rewards patience more than almost any other financial services category and trust is earned over market cycles, not quarters. Nexedge’s founding team has experienced that cycle multiple times, and their vision is to build India’s first true Net-Worth Management firm, one that manages the entirety of a family’s balance sheet rather than only its investible surplus.
Nexedge’s founding team combines two things almost no one else in Indian wealth management has together – deep, pre-existing client relationships and a model with zero incentive to sell the wrong product.
That combination is rare.
We think Nexedge is where a disproportionate share of India’s next wealth story will get built.