Indian investor Vikram Kotak’s company Crest Capital is planning to buy 25% stake in Bangalore-based family office Credence Capital, reported The Times of India.
Credence, a wealth management startup, manages assets worth INR20m ($0.3m) on behalf of a number of high profile people from the tech and other industries in the city.
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By virtue of the deal, Credence, which was floated by three former employees of Citibank, will leverage Crest’s reach to have a pan-India footprint in the wealth management space for ultra-rich clients, according to the news report.
In March 2015, Crest Capital has picked up 25% in DOT1 Solutions, a startup in the management consulting, technology services and business transformation outsourcing space, said the newspaper.
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