News Update

Zerodha and smallcase Join Forces in Joint Venture for AMC Operations

• ByStartupStory     |    April 13, 2023

Zerodha, a brokerage house, has joined forces with smallcase, a wealth management firm backed by Amazon, to establish an asset management company. The Securities and Exchange Board of India (SEBI) has already granted approval for the joint venture. Zerodha’s Founder and CEO, Nithin Kamath, stated in a tweet that while awaiting the final approval for their mutual fund asset management company, they decided to collaborate with smallcase given their extensive experience of over 6 years in building investment products.

Zerodha has announced that smallcase will be collaborating with them in building affordable and straightforward passive mutual fund products for investors. Zerodha had received in-principle approval from SEBI in September 2021 for setting up their asset management company, after applying for a mutual fund operations license in February 2020. The final approval from SEBI for commencing mutual fund operations is currently pending.

Vasanth Kamath, the CEO and Founder of smallcase, expressed his excitement about partnering with Zerodha to introduce a new generation of investors to mutual funds. In a tweet, he mentioned that the upcoming asset management company (AMC) will be a joint venture between Zerodha and smallcase, utilizing the learnings and shared values of both companies to build a long-lasting fund house. Currently, there are 42 mutual fund players managing an asset base of Rs 40.5 lakh crore in India. Additionally, Bajaj Finserv Mutual Fund, the latest entrant, has filed draft documents with SEBI for launching seven schemes in equity, debt, and hybrid spaces.

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