Cosmea Financial Holdings (CFH), led by Sam Ghosh, announced the beginning of its wealth management business, Torus Private Wealth, on Tuesday, to establish a USD 1 billion asset base in the next three years.
Torus Private Wealth has accumulated USD 20 million in assets under management (AUM) in its first two months of business, according to CFH. It also has offices in Delhi and Mumbai.
In the next three years, the firm hopes to reach a market capitalization of $1 billion, with an emphasis on delivering end-to-end financial solutions and strategic advisory services to HNIs, super HNIs, rising firms, and startups.
“Traditional investment products have been surpassed by wealth creation in developing firms and startup ecosystems. Startups and venture capital are increasingly a significant asset class for comprehensive wealth management. It is easier to generate additional wealth if one can provide strategic value to these businesses “Torus Private Wealth CEO Sumita Pillai observed.
Torus Private Wealth will launch and distribute products centered on Indian and foreign currency to the LRS (Liberalised Remittance Scheme) and non-resident pool in the next quarters.
In the following 3-4 months, the company wants to expand to Bangalore, Hyderabad, and Kolkata.
Torus Private Wealth will focus on in-house product production skills and an open architecture platform to fuel expansion, resulting in a combination of deep insight and domain technology model.
Torus Private Wealth offers a pipeline of tailored solutions for the MSME sector, which has been previously disregarded by wealth managers because it recognizes it as a vital and developing part of the Indian economy.
The company’s Business Owners Advisory is another major differentiation (BOA). This will aid in the wealth management platform’s wider penetration with clients.
“The delivery approach will be a combination of an offline interface and a high-end technological platform that will provide a single perspective and accurate picture of an investor’s net worth across portfolios and products,” Pillai explained.
Torus Kling Blockchain IFSC, a 50:50 joint venture between CFH and Kling Trading India, signed an MOU with India INX earlier this year to launch a Bitcoin and Ethereum Futures ETF as well as a Metaverse US-listed Large-cap, which will be the country’s first crypto-backed futures ETF, subject to applicable approvals.
To create digital-first Torus Oro AMC, CFH recently launched a collaborative venture with Mumbai-based wealth and investment management fintech firm Orowealth.
CFH owns a 74% share in the AMC, which has appealed to the markets regulator Sebi for a license to begin operations.
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