Wealth Management Firm Waterfield Advisors Raises Rs 123 Crore in Series A Round

Mumbai-based Waterfield Advisors has raised Rs 123 crore in its Series A funding round through a private placement of convertible preference shares. The wealth management firm, which caters to ultra-high-net-worth individuals and family offices, secured the investment at Rs 1,126 per share.

Singapore's Jungle Ventures emerged as the lead investor, contributing Rs 100 crore for approximately 888,000 shares. Company promoter and director Soumya Rajan invested Rs 2 crore in the round.

Several prominent individual investors also participated, including veteran investors Bharat Dhirajlal Shah, Vijay Singh, and Bandi Vamsikrishna. Other notable participants included Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh.

The funding was structured through Compulsorily Convertible Preference Shares (CCPS), which will automatically convert to equity shares at a later date. This financing approach protects both founder and investor interests while managing immediate ownership dilution.

Waterfield Advisors was established in 2011, and over the years, it has built a stellar reputation in India's growing wealth management domain. This funding will strengthen the company's position in the super competitive ultra-high-net-worth segment.

The funding round was confirmed through regulatory filings with the Registrar of Companies, marking a significant milestone for the twelve-year-old firm.