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Startups

Indian wealth management startup focuses on the ultrarich

True Beacon hopes new fund in tax-incentive zone will attract global investors

True Beacon is a follow-up venture by Nikhil Kamath (right), who along with his brother Nithin Kamath (left) started Zerodha in 2010. (Photo courtesy of the company)

MUMBAI -- True Beacon, a wealth management startup co-founded by storied stock trading industry disrupter Nikhil Kamath, is eyeing to break the mark of $1 billion in assets under management in the next 18 to 24 months by pooling funds of individuals with ultrahigh net worth from across the globe into India.

True Beacon is a follow-up venture by Kamath, who along with his brother Nithin Kamath started Zerodha in 2010. Zerodha is credited with bringing millennials and Generation Z into the stock market and has over 7.5 million active clients, who contribute more than 15% of all Indian retail trading volume. The name is a portmanteau of "zero" and "rodha," which means barrier in Sanskrit. Sons of a banker, both brothers dabbled in stock trading as youngsters under a company named Kamath Associates.

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