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UHNIs to invest billions of dollars in Indian tech startups: Report

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A new report by by 256 Network and Praxis Global Alliance says that Indian UHNIs (individuals with net worth of more than USD30 million) are expected to invest up to USD30 billion in tech startups in the country by 2025.

Titled ‘Turning Ideas to Gold’, the report projects that India could add 95 new tech unicorns to its 56-strong unicorn pool by the same time period.

“India is expected to have approximately 10,000 UHNIs, which will include business leaders, celebrities, NRIs, and digital entrepreneurs with a cumulative wealth of USD700 billion by 2024.

Family offices are being set up as full-service private wealth management services to cater to one, or a small clutch of these ultra-high-net-worth individuals,” the report says.

Currently, India has about 140-plus family offices catering to Indian UHNIs and heavily investing in the Indian startup space, it added. They have been pro-actively involved in over 50 such deals every year since 2015, the report adds.

Kris Gopalakrishnan, the co-founder of Infosys and promoter of Pratithi Family Office, told PTI: “Investments in innovative startups have emerged as a lucrative alternate asset class when compared to traditional investments like equity, debt, commodities, and real estate.”

“Backing such companies requires deep expertise, strong networks, patience, and sufficient capital. Funds run by professionals provide that opportunity to Indian Family Offices and UHNIs,” he said.