True Beacon, launched by Zerodha's founder Nikhil Kamath, strengthens partnerships and strategic value creation for UHNIs and HNIs
Abhijeet Pai, a Hyderabad-based entrepreneur and industrialist, joined the founding team of True Beacon as a General Partner. As co-founder, he will forge new partnerships, help expand the client product suite and focus on originating and executing private deals for the company's client base.
True Beacon's clients currently invest in Alternative Investment Funds (AIF), and Portfolio Management Services (PMS) or investors who take advantage of the company's advisory capabilities. It was launched in 2019 by Zerodha's co-founder Nikhil Kamath along with Richard Pattle, the former global vice chairman of Standard Chartered Private Bank.
Initially offering Category III AIF, the company has added an Equity Factor Quant PMS strategy to its product suite and bespoke wealth management. It claims to be founded on a client-aligned fee model, capital markets expertise and differentiated strategic value creation by connecting over 500 clients across geographies and industries.
Abhijeet Pai is part of the family behind the Puzzolana Group, which is a leading player in the mining, metallurgy, construction and engineering sectors. He has an active role in the Group's engineering and manufacturing services and their status as a 'solution partner" to cater to fast-moving consumer goods (FMCG) and other industries.
Pai co-founded Gruhas Proptech with Nikhil Kamath in 2021 to bring tech-based innovation to the construction and real estate sectors through start-up investment. He has a background in private equity transactions, venture capital, special situations and listed entities.
Kamath said about the appointment, "I have known Abhijeet for a few years and was fortunate to co-found Gruhas with him. We are eager to work with him at True Beacon, where his experience in private markets, real estate and partnerships will be invaluable."
Pattle added, "As we expand True Beacon and react to high net individuals (HNI) and ultra HNI client needs, Pai is a very exciting addition to the founding team and will help us provide increasing focus on our client wealth, advisory and transaction requirements."
True Beacon's flagship fund is open-ended, with zero management fees and a 10 per cent annual performance reward on gains achieved by the company. It aims to create a community of UHNI and HNI in India and overseas, driving strategic value through global deal flow, co-investment opportunities, philanthropic initiatives, and next-generation educational programmes.