Investment in Dezerv
PremjiInvest, the family office of Wipro founder-chairman Azim Premji, and venture capital firm Accel have doubled down on their investments in wealth management platform Dezerv, co-leading its Series C funding round.
Dezerv secured Rs 350 crore ($39.4 million) in the round, co-led by PremjiInvest and Accel which invested through its Global Growth Fund.
- PremjiInvest and Accel co-led the Series C funding round.
- Elevation Capital and Z47 (previously Matrix Partners India) also participated in the round.
“Since our initial investment last year, Dezerv’s AUM is on track to quadruple by the end of this year, driven by resilient client flows and a combination of organic and inorganic capital allocation from its customers,” said Saravanan Nattanmai, partner, PremjiInvest.
Author's summary: PremjiInvest and Accel invest in Dezerv.