Capitalmind Financial Services Pvt. said that it has received in-principle approval from SEBI to launch a mutual fund, according to a media statement shared by Founder and Chief Executive Officer Deepak Shenoy in social media platform X, formerly known as Twitter.
The approval coincided with the firm's tenth anniversary. Shenoy described the approval as "an honour and a privilege" and expressed gratitude for the opportunity.
"We plan to use technology, partnerships, and distribution channels to capitalise on India's growth. We aim to establish Capitalmind Asset Management Company to meet SEBI's final approval requirements," Shenoy said.
"This approach has enabled us to provide unparalleled service, set new transparency standards, and maintain the highest regulatory compliance. Our focus on technology keeps us ahead, ensuring our clients achieve the best possible outcomes," Chief Operating Officer Vashistha Iyer said.
Shenoy also outlined the firm's goals, which include introducing "innovative investing approaches" tailored to the evolving needs of Indian mutual fund investors.
"Our goal is to serve the rapidly growing 4.5 crore mutual fund investors with exceptional products and services while contributing to the mutual fund industry's growth. We look forward to adding value to the Rs 64 lakh crore industry and supporting the financialisation of India," he added.
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