Zerodha’s investment arm Rainmatter invests in Capitalmind

Zerodha’s investment arm, Raimatter, has invested in Capitalmind, a portfolio management startup. While the exact amount of investment hasn’t been disclosed yet, Deepak Shenoy, founder of Capitalmind, said that Rainmatter’s investment in the company has bought it a 5 per cent stake.

Deepak Shenoy has been an early advisor of Zerodha. Capitalmind is currently raising its Series A funding.

Nithin Kamath, founder and CEO of Zerodha and Rainmatter, said in a statement that they want to back innovative companies that share our mission of helping Indians do better with their money.

“My conversation with Deepak about finance and technology started back in 2009, and I have always been impressed by Capitalmind’s data-driven, transparent approach. This is a financial investment to support them as they build their asset management company”, Kamath added.

Capitalmind’s mutual fund launch
Capitalmind recently launched its mutual fund business. The company’s first scheme, the Capitalmind Flexi Cap Fund, reopens for subscriptions on August 6.

The fund’s recent New Fund Offer (NFO) successfully raised ₹45 crore, with 75 per cent of assets coming through direct plans. Furthermore, nearly half of the direct inflows were facilitated through Zerodha’s Coin platform. The remaining 25% of NFO assets came via regular plans.