The investment is aimed at building global investment capabilities and products for Indian investors, while also allowing Groww to explore opportunities outside the country.Global asset manager State Street Investment Management is set to invest $65 million (about ₹580 crore) in Groww Asset Management Company (AMC).
Of the total investment, about ₹381 crore will be secondary share purchases, while around ₹199 crore will be fresh capital, which could dilute Groww AMC’s share capital by up to 23 per cent.
The investment is aimed at building global investment capabilities and products for Indian investors, while also allowing Groww to explore opportunities outside the country.
The strategic investment by State Street comes at a time when Indian retail participation across asset classes is widening, and global fund managers are increasingly looking for local partners with large digital distribution platforms.
This also marks an instance of a large global fund manager taking a direct bet on an Indian wealthtech platform’s AMC business.
Last month, Jio Financial and global asset management firm BlackRock together infused ₹229 crore into their joint venture, Jio BlackRock Asset Management.
In the December quarter of the current fiscal, Groww reported revenue of ₹1,261 crore in Q3 FY26, up 26 per cent year-on-year.
The company’s net profit declined 28 per cent year-on-year to ₹547 crore during the period.
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