Fmr Blackstone exec Cyriac invests in Wealthdesk, firm raises $3.2 mln

Investment technology platform Wealthdesk on Thursday said former co-head of private equity major Blackstone in India, Mathew Cyriac, has invested an undisclosed amount in the company in his personal capacity.

With this investment, the company has raised USD 3.2 million in a pre-series A round, which had also seen fundraising earlier this year from individual investors including senior leaders from global banks, market participants, and other top corporates, as per an official statement.

In the past six months, the company has doubled the number of advisors and research partners, and brokers on its platform to 20 and 30 respectively, and continues to onboard 3-5 partners every month, it said.

“I am very excited about Wealthdesk because the company's growth is being powered by the trifecta of strong vision, unparalleled domain knowledge, and industry-leading tech capabilities and they are building a strong ecosystem,” Cyriac was quoted as saying in the statement.

“We believe there exists a '100 million investors' opportunity in India, and Mathew's guidance will enable us to seize this opportunity effectively,” the company's founder and chief executive Ujjwal Jain said.

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