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Zephyr, TVS Cap, Dalmia lead $6 million funding in Waterfield

The multi-family advisory firm will use part of the proceeds to establish its presence in New York, Singapore and Dubai, with the rest going towards hiring top talent and enhancing its platforms.

, ET Bureau|
Last Updated: Dec 19, 2019, 07.53 AM IST
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Following the closure of the latest round, Waterfield will have raised an estimated $8 million till date.
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NEW DELHI: Waterfield Advisors has raised $6 million (about Rs 43 crore) in a fresh equity funding round, led by a consortium of investors including New York-based Zephyr Management, TVS Capital Fund and Gaurav Dalmia of Dalmia Group Holdings.

The multi-family advisory firm, founded by St Stephen’s and Oxford University alum Soumya Rajan and Sanjay Teli, will use part of the proceeds to establish its presence in New York, Singapore and Dubai, with the rest going towards hiring top talent and enhancing its platforms.

“New York is pretty much on the cards before summer of next year…We will also have a presence in London, which may come in a little later. We are trying to potentially solve for the enormous market that is there for potentially India allocation for family offices,” Rajan told ET.

Following the closure of the latest round, Waterfield will have raised an estimated $8 million till date. The firm also counts Amit and Arihant Patni as early investors, with the two sons of Gajendra Patni, cofounder of Patni Computer Systems, having first invested in the company in 2014.

Founded in 2010, Waterfield advises more than 60 prominent business families of India with total assets under advisory of over $3.3 billion. It is currently present in New Delhi, Mumbai, Chennai and Bengaluru. In July, the boutique advisory firm was also reported to be launching the country’s first domestic-focused development impact bond — the Lakhpati Kisan Bond — to help crisis-hit farming families.
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