Norwest invests ₹387 crore in Veriqus Group as it rolls out wealth, asset management platform

Veriqus Group has attracted ₹387 crore in its latest funding round led by Norwest, a global venture and growth equity investment firm managing over $15.5 billion in capital, even as it launched an integrated wealth and asset management platform.

Founded by seasoned financial services leaders Ashish Gumashta, former Chairman & CEO of Julius Baer India, and Roshi Jain, former Senior Fund Manager at HDFC Asset Management Company, the firm aims to establish a new standard of partnership for high-networth individuals, family offices and institutions.

Gumashta brings over three decades of experience in wealth management, having played a pivotal role in establishing DSP Merrill Lynch’s wealth management business in India, before leading Julius Baer India. Jain, who will head Veriqus’ asset management arm, has previously managed over ₹1.35 lakh crore in assets across three flagship funds at HDFC AMC, including its flexi cap fund.

Veriqus’ Wealth Management business is being built from the ground up as a technology and AI-enabled platform that combines deep advisory relationships with portfolio analytics, risk monitoring and client reporting.

Ashish Gumashta, co-founder of the Veriqus Group, said India is in the middle of the largest wealth-creation cycle in its history, and much of that wealth is now being built well beyond the metros, by first-generation entrepreneurs and business families who deserve a genuine partner.

Norwest’s backing lets the company build the platform ground-up, embedding technology and AI at the core, he said.

Roshi Jain, co-founder of the Veriqus Group, said the journey to create an integrated wealth and asset management platform is premised on the conviction that enduring wealth is built through discipline and prudent risk-taking.

Asset management at Veriqus combines rigorous fundamental research with a long-term investment approach, as it strives to deliver superior risk-adjusted returns to clients, she said.

Nikhil Kookada, Principal, Norwest, said India’s wealth management industry is at an inflection point, driven by rapid wealth creation beyond the major metros, increasing financialisation of savings and growing demand for holistic, high-quality advice.

The next generation of wealth market leaders will combine deep advisory expertise with technology-enabled execution and a truly integrated platform. he said.

Published on July 20, 2026