The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Edelweiss rides India’s unicorn wave

unicorn-inflatable-ring-GettyImages-960.jpg
Photo: Getty

The firm’s wealth management arm positioned itself early for a possible spurt in unicorns in India and the opportunities that may bring. It is now reaping the rewards.

India’s surge in startups has caught plenty of people on the hop. Technology experts are now in such demand in this fast-growing e-commerce market that many finance firms have scrambled to hire much-needed talent over the past year.

At wealth manager Edelweiss Private Wealth, senior management can’t help wondering what took the competition so long.

“It is interesting to see how people are suddenly having a big FOMO [fear of missing out] moment,” says Alok Saigal, president and head of Edelweiss Private Wealth.

Neither the explosion of tech unicorns – firms defined as valued at over $1 billion – in Asia’s third-biggest economy nor the resulting funding bonanza surprises Saigal’s team. In recent years, Edelweiss built a well-deserved reputation for both sensing which startups had potential and offering advantageously priced entry points to their high net-worth clients.

The ecosystem in India has become very, very robust for startups
Alok Saigal, Edelweiss Private Wealth
ALok-Saigal-Edelweiss-Private-Wealth-696.jpg

In 2017, for example, Edelweiss rolled out the first of its Crossover Opportunities funds. These are alternative investment vehicles that focus on pre-initial public offering and growth-stage startup companies.

A second Crossover fund followed in 2018, and in May 2021, Edelweiss announced plans to raise another $1 billion for the same series of funds.

It

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

Tags

William Pesek is a freelance contributor for Asiamoney, based in Tokyo.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree