Singapore’s Elev8 Venture Partners led $50 M Series D funding raised by Smallcase
The largest model portfolios platform in India, Smallcase, has raised $50 million in its Series D funding round, which was led by Elev8 Venture Partners of Singapore and included both primary and secondary investors.
According to a statement released by Smallcase last Friday, both new and returning investors, including State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures, participated in the round.
Blume Ventures, Amazon Smbhav Venture Fund (ASVF), Blume Partners, Peak XV Partners (formerly Sequoia Capital India), Premji Invest, DSP Group, and HDFC Bank are additional current investors.
Smallcase will broaden its investment product offerings across asset classes and fortify its ties with ecosystem partners and retail investors with the help of the funds raised.
“The smallcase team has built a world-class investment platform that has become a mainstream player in India’s asset and wealth management landscape,
“Smallcase has not only established itself as a trusted brand but also continues to innovate on new formats to further scale its platform,” said Navin Honagudi, Managing Director and Founding General Partner, Elev8 Venture Partners.
“At Elev8, we strongly believe in smallcase’s vision and growth potential and are excited to support them in their journey,” he added.
Smallcase, which was founded in 2016, has created a platform for model stock and exchange-traded fund (ETF) portfolios, also known as smallcases, that allow people to build their long-term portfolios in a diversified manner with complete control and transparency.
In order to expand its product line to include index funds and exchange-traded funds (ETFs), Smallcase joined forces with Zerodha to establish a new asset management business in 2023.
“Smallcase’s vision has always been to build simple and transparent products that are relevant for every investor’s portfolio,
“The opportunity to help millions of Indians design better financial futures is one of huge responsibility and we will continue to deliver on it with honesty and integrity along with our partners,” said Vasanth Kamath, Co-founder and Chief Executive Officer of smallcase.
According to smallcase co-founder Anugrah Shrivastava, the company has successfully expanded its platform to accommodate new use cases, such as secured credit.
“We are excited for our roadmap to expand smallcases to popular assets like mutual funds, fixed income and to introduce new tools for our customers to optimize their wealth and net-worth better,” he added.
