Zerodha is looking to build low-cost passive mutual fund products for India with Sequoia-backed smallcase
The Nikhil Kamath-led investech unicorn received an in-principle approval from SEBI in 2021 to start its AMC
While Zerodha reported a profit of INR 2,094 Cr in FY22, smallcase posted a loss of INR 76 Cr during the year
Investech unicorn Zerodha will form a joint venture with investech platform smallcase to foray into the mutual fund business through the launch of its asset management company (AMC), said founder Nithin Kamath in a Twitter post on Wednesday (April 12).
Announcing the collaboration on Twitter, Zerodha founder Nithin Kamath said on Wednesday (April 12), “While awaiting the final approval of our AMC (mutual fund), we asked if we should build it ourselves or collaborate. Given the 6+ years of experience that smallcaseHQ has in building investment products, it made perfect sense to create a joint venture (JV) to build the AMC.