Participated · Equity · Aug 2025

Neo Asset Management is the alternative asset management arm of Neo Group, focused on delivering consumer-oriented wealth and investment solutions in India. The firm claims to manage more than Rs 10,000 crore in assets across strategies such as private credit and alternative equities. Founded in 2021 in Mumbai by Nitin Jain and Hemant Daga, Neo is steadily broadening its product suite to capture India’s growing appetite for non-traditional assets. In April 2025 the company achieved the first close of its second private credit fund at Rs 2,000 crore, signaling continued expansion in credit. For the fiscal year ended March 2024, revenue jumped 2.7× year-on-year to Rs 177 crore, though losses widened to Rs 13.7 crore. The fresh capital injection is earmarked for growth initiatives and general operations as the platform scales nationwide. Management continues to engage both institutional and strategic backers to accelerate its roadmap.

Led · Series A · Aug 2022

Founded in 2015 by Jogin Desai, Rajani Battu, and Rajarshi Pal, Eyestem is focused on cell replacement therapies for retinal disorders. Its lead candidate, Eyecyte-RPE, aims to treat dry age-related macular degeneration by using retinal pigment epithelium cells derived from human stem cells to restore damaged retinal tissue. The company remains in the pre-revenue stage and generated Rs 2.92 crore in non-operating income during FY24 while reporting a net loss of Rs 12.18 crore. Post-money, Eyestem’s valuation has risen roughly 70% to Rs 592 crore (about $67 million). To date, the firm has raised roughly $20 million, including a $6.4 million Series A in August 2022. Major external shareholders now include Jacesa Investments (12.5%), Cytespace (9.64%), and Endiya Partners (7.12%), while the co-founders collectively hold 21.19%. The fresh capital is expected to advance clinical development and expand the company’s pipeline of regenerative eye treatments.