Indian UHNIs to invest in tech start-ups

Indian UHNIs (ultra-high net worth individuals) are expected to invest $30 billion in tech start-ups in the country by 2025, reflecting the growing investment opportunity for local tech ventures, a report by 256 Network and Praxis Global Alliance said.

The report titled, ‘Turning Ideas to Gold’, likewise noticed that India could add 95 new tech unicorns to its 56-in number unicorn pool by a similar time span.

“India is required to have around 10,000 UHNIs, which will include business pioneers, superstars, NRIs, and digital entrepreneurs with a cumulative wealth of $700 billion by 2024.

“Family offices are being set up as full-service private wealth management service to take into account one, or a small clutch of these super high-net worth individuals,” the report said.

The report characterizes UHNIs as those having total assets of more than $30 million. Right now, India has around 140 or more family offices taking into account Indian UHNIs and intensely putting resources into the Indian startup space, it added.