Zerodha's Rainmatter Picks Up 5% Stake In Deepak Shenoy's Capitalmind Financial Services
Company's stake is capped at 10%, and we will not have a board seat.
Rainmatter, the investment arm of Zerodha Broking Ltd. has acquired an approximately 5% stake in Capitalmind Financial Services Ltd. This marks Capitalmind's first institutional funding round, following the successful launch of its fund business.
“Very happy to announce their investment into our company with approximately 5 per cent stake,” said Deepak Shenoy, MD & CEO, Capitalmind Asset Management, in an “X” post.
Nithin Kamath, founder and CEO of Zerodha and Rainmatter, said his company wants to back innovative companies that share its mission of helping Indians do better with their money, reported the Business Line.
“In line with SEBI regulations, our stake is capped at 10%, and we will not have a board seat, ensuring their independence,” Kamath said, as per BL.
Kamath, in a post on X, also stated, It is sometimes surreal how life comes full circle. "Deepak Shenoy was among the first people I spoke to about the idea of Zerodha. When we started, he agreed to lend his credibility by having his name on our website as an advisor. We're happy to be backing him through Rainmatter as Capital Mind continues its journey of now being an AMC."
