InCred Capital
InCred Capital is the institutional, wealth, and asset management arm of InCred Group, offering integrated investment banking, HNI/UHNI wealth management, asset management, and alternative investments to corporate clients, institutional investors, and high net worth individuals across India, Singapore, Dubai, London, and New York.
- Company typePrivate
- Founded2016
- HeadquartersMumbai, India
- Headcount51–100
- GTM typeB2B
- OfferingServices
What InCred Capital does
InCred Capital is the institutional, wealth, and asset management arm of InCred Group, founded by Bhupinder Singh (former Co-Head of Corporate Banking and Securities, Deutsche Bank Asia Pacific) in 2016, with the capital-markets business starting in September 2018. The firm operates an integrated financial services platform built around four business units: Investment Banking (M&A advisory, financial advisory, restructuring, and equity capital markets, with sector depth in Healthcare, Consumer, Tech, Industrials, and BFSI); Wealth Management under the InCred Wealth brand (serving HNI and UHNI clients across India and 10+ NRI markets with primary and secondary debt and equity, private equity placements, structured products, alternative fund opportunities, and global market access); Asset Management (portfolio management services and AIF management through InCred Asset Management and InCred Alternatives); and a retail wealth-tech arm, InCred Money, launched in 2023 after acquiring Orowealth.
The platform is executed through four wholly-owned, SEBI-registered subsidiaries covering stockbroking, investment advisory, portfolio management, depository participation, research analysis, merchant banking, and AIF management (Cat I, II, III). As of mid-2026 the firm reports Wealth Management AUM of INR 1,00,000 crore (USD 10.5 billion), Asset Management AUM of INR 10,000 crore (USD 1 billion), InCred Alternatives private credit AUM above INR 4,000 crore, Investment Banking deal volume of approximately USD 7 billion across 250+ deals, and total deal value of USD 9.5+ billion including 90+ M&A transactions and 50+ cross-border deals; it has been ranked #4 globally by M&A deal closures in H1 2023, #5 in CY22, and #1 Private Lender by Deal Volume in India.
The firm operates from offices in Mumbai (headquarters), Singapore, Dubai, London, and New York (opened June 2026), with revenue generated through transaction advisory fees, asset-based management and performance fees, brokerage and distribution commissions, and interest income from private credit. Existing institutional investors include KKR and MNI Ventures, and parent InCred Holdings filed an Updated Draft Red Herring Prospectus with SEBI in May 2026 for an INR 1,250 crore IPO.
InCred Capital firmographics
Firmographics- Name
- InCred Capital
- Legal name
- InCred Capital Financial Services Limited
- Website
- https://www.incredcapital.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- InCred Capital is the institutional, wealth, and asset management arm of InCred Group, offering integrated investment banking, HNI/UHNI wealth management, asset management, and alternative investments to corporate clients, institutional investors, and high net worth individuals across India, Singapore, Dubai, London, and New York.
- Ownership category
- akta.pro rank
InCred Capital industry classification
Industry- Product category
- Investment Banking and Wealth Management
- NAICS
- Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Financial Vehicles (52599), Other Investment Pools and Funds (5259), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Asset-Backed Securities (6189)
- akta.pro primary industry
- Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)
- akta.pro secondary industries
- Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Asset-Backed Securities (ABS) (FSACACAA), Institutional Capital Introduction (LP/Family Office/Endowment Matching) (FSAEALAI)
Keywords
Where InCred Capital is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices5 records
Markets served
InCred Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Investment Banking Advisory: M&A, restructuring, financial advisory, and equity capital markets services rendered to corporate clients, generating fee income from transaction-based advisory mandates.
- Wealth Management: Wealth management services for HNI and UHNI clients including product distribution (debt, equity, structured products, alternative funds, global market access), generating fees and commissions.
- Asset Management: Asset management across mutual funds, alternative investment funds (AIFs), and portfolio management services, generating management fees and performance fees.
- Alternative Investments / Private Credit: Private credit and special situations lending through closed-ended AIF funds, generating interest income and carried interest.
Go-to-market motion3 records
Distribution channels2 records
Marketing channels4 records
InCred Capital product offering
Product offeringCore offering
InCred Capital is an integrated financial institution providing Investment Banking services (M&A advisory, equity capital markets, financial advisory and restructuring), Wealth Management for HNI/UHNI clients via InCred Wealth, Asset Management (portfolio management services, mutual funds and AIFs) via InCred Asset Management, and Alternative Investments (private credit and special situations lending) via InCred Alternatives. The platform operates through SEBI-registered subsidiaries and serves institutional investors, corporate clients and wealthy individuals with an integrated ecosystem connecting global liquidity to Indian investment opportunities.
Product overview
InCred Capital operates as a diversified financial services platform with an integrated business model comprising four main business units: Investment Banking (M&A, financial advisory, and equity capital markets), Wealth Management (InCred Wealth serving HNI/UHNI clients), Asset Management (InCred Asset Management offering portfolio management and AIF services), and Alternative Investments (InCred Alternatives managing credit and special situations funds). The company also operates InCred Money, a retail digital investment platform launched in 2023. The platform is backed by multiple SEBI-registered subsidiaries including InCred Capital Wealth Portfolio Managers, InCred Asset Management Private Limited, InCred Alternative Investments Private Limited, and InCred Research Services Private Limited, enabling it to offer stockbroking, investment advisory, portfolio management, depository, research, and merchant banking services through a single integrated ecosystem.
Differentiator
Problem solved
Functional benefit
Products and services
- Investment Banking Investment Banking services offering M&A advisory, financial advisory, restructuring and equity capital markets solutions for Indian and international corporations, with deep sector expertise across Healthcare, Consumer, Tech, Industrials and BFSI.
- InCred Wealth Wealth management platform serving HNI and UHNI clients with products spanning primary and secondary debt and equity, private equity placements, equity structured products, alternative fund opportunities and global market access, distributed through dedicated relationship managers across 50+ Indian cities and 10+ countries.
- InCred Asset Management Asset management platform offering portfolio management services, mutual funds and Alternative Investment Fund (AIF) management for institutional and individual investors, including Category I, II and III AIFs such as the India Value and Growth Trust and InCred Equity Opportunities Trust.
- InCred Alternatives Alternative investments platform managing special opportunities credit funds, performing private credit funds and special situations AIFs targeting sectors including auto, power, oil and gas, and hospitality, ranked No. 1 Private Lender by Deal Volume.
- InCred Special Opportunities Fund-I Category II, close-ended Alternative Investment Fund from InCred Alternatives targeting special situations credit investments across auto, power, oil and gas, and hospitality sectors; closed at hard cap of INR 1,500 crore with ~75 percent deployed.
- InCred Money Digital investment platform acquired via Orowealth that provides retail investors access to investment products, marking InCred's foray into retail wealth-tech under the broader InCred Group ecosystem.
- InCred Structured Products Structured investment products offered as part of the integrated financial platform, listed on the company's homepage alongside its four primary business units.
Quantifiable outcome
- Wealth Management AUM of INR 1 lakh crore (USD 10.5 billion) and Asset Management AUM of INR 10,000 crore (USD 1 billion)
- +3 more outcomes
Companies that use InCred Capital
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
InCred Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
InCred Capital partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- S Cube CapitalcoreInCred Capital acquired Singapore-based S Cube Capital, integrating it through its subsidiary InCred Global Wealth Pte to expand its offshore wealth platform specifically strengthening investment capabilities across the Singapore-Gulf Cooperation Council-India corridor.
- OrowealthcoreInCred Capital acquired a 71% stake in digital investment firm Orowealth in an all-cash deal, subject to regulatory approval. Vijay Kuppa, co-founder of Orowealth, became CEO of InCred Money (the retail wealth-tech arm), aiming to grow assets under management and expand product offerings in the digital investment space.
- InCred Global Wealth PtecoreInCred Capital uses its Singapore subsidiary InCred Global Wealth Pte as the vehicle for integrating and operating its offshore wealth platform, including the S Cube Capital acquisition, serving clients with cross-border wealth management needs across Singapore, GCC, and India.
Scale indicators13 records
Recent moves8 records
Expansion highlights6 records
InCred Capital competitors and assessment
Company assessmentDirect peers
- JM Financial: Diversified Indian financial services platform with investment banking, institutional equities, wealth management, and asset management businesses. Directly comparable integrated platform competitor with stronger brand recognition in Indian IB.
- Kotak Mahindra Capital: One of India's leading domestic investment banks offering M&A advisory, ECM, and DCM solutions to corporate clients. Most directly comparable Indian IB competitor to InCred Capital's Investment Banking franchise, with similar sector coverage and mid-to-large cap deal focus.
- ICICI Securities: Integrated Indian securities firm offering investment banking, institutional equities, wealth management, and retail broking. Direct competitor across InCred's IB, Wealth, and Asset Management business lines, with a larger institutional equity distribution footprint.
- Axis Capital: Indian investment banking and institutional equities arm of Axis Bank, providing M&A advisory, ECM, DCM, and equity research. Comparable to InCred Capital's IB franchise in deal size, sector coverage, and cross-border execution.
- IIFL Securities: Integrated Indian financial services firm offering investment banking, institutional broking, wealth management, and asset management. Comparable to InCred Capital across multiple business lines with similar target client segments (HNI, UHNI, institutional).
- Motilal Oswal Financial Services: Indian financial services group with strong wealth management, asset management, and institutional equities businesses. Comparable to InCred Capital's wealth and AM platforms, with deeper retail distribution via the Motilal Oswal brand.
- Edelweiss Financial Services: Diversified Indian financial services platform spanning credit, alternatives, wealth, and asset management. Comparable to InCred Capital's integrated model — particularly on the alternatives/credit side where Edelweiss Alternative Asset Advisors is a major competitor.
- Avendus Capital: India-focused investment bank with strong M&A, ECM, and structured finance practices. Closest comparable mid-to-large-cap Indian IB peer in terms of deal size focus, sector expertise, and cross-border execution capabilities.
Broad incumbents
- Nomura: Global bulge-bracket bank with deep India investment banking and equities presence. Competes with InCred Capital on cross-border M&A and ECM mandates, but operates as a global franchise rather than India-focused specialist.
- Goldman Sachs (India): Global bulge-bracket bank with established India M&A and capital markets practice. Competes with InCred Capital on large-cap cross-border mandates and increasingly in wealth management — but with vastly greater resources and brand recognition.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
InCred Capital social profiles
Digital presenceInCred Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
InCred Capital leadership team
Management profileNumber of profiles
Profiles11 records
InCred Capital subsidiaries and ownership
Company hierarchySubsidiaries4 records
InCred Capital funding detail
Funding detailFunding overview
Funding rounds3 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
InCred Capital M&A and investment
M&A and investmentM&A2 records
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about InCred Capital
What does InCred Capital do?
InCred Capital is an integrated financial institution providing Investment Banking services (M&A advisory, equity capital markets, financial advisory and restructuring), Wealth Management for HNI/UHNI clients via InCred Wealth, Asset Management (portfolio management services, mutual funds and AIFs) via InCred Asset Management, and Alternative Investments (private credit and special situations lending) via InCred Alternatives. The platform operates through SEBI-registered subsidiaries and serves institutional investors, corporate clients and wealthy individuals with an integrated ecosystem connecting global liquidity to Indian investment opportunities.
Is InCred Capital a public or private company?
InCred Capital is a private company. It is classified as venture growth investor backed and is currently operating.
When was InCred Capital founded?
InCred Capital was founded in 2016. It employs 51 to 100 people.
Where is InCred Capital based?
InCred Capital is headquartered in Mumbai, India, in the Asia region.
How does InCred Capital make money?
Four revenue lines are on record. Investment Banking Advisory is the primary driver. The others are wealth Management, asset Management and alternative Investments / Private Credit.
Who are InCred Capital's main competitors?
Direct peers on record are JM Financial, Kotak Mahindra Capital, ICICI Securities, Axis Capital, IIFL Securities, Motilal Oswal Financial Services, Edelweiss Financial Services and Avendus Capital. Broad incumbents are Nomura and Goldman Sachs (India).
Does InCred Capital have an API?
No public API is recorded for InCred Capital.
What industry is InCred Capital in?
InCred Capital's product category is Investment Banking and Wealth Management. Its primary akta.pro industry code is FSAEAGAC, Capital Raising Advisory (Equity & Equity-Linked), with a secondary code of BPAHAOAE, Equity Capital Advisory (Private Equity Placements, Growth Capital). Its NAICS code is 523940 and its SIC code is 6211.