Cosmea Financial forms JV with Orowealth; to foray into mutual fund

Cosmea Financial Holdings, a new-age financial firm promoted by Sam Ghosh, has entered into a joint venture with Mumbai-based wealth and investment management fintech startup Orowealth to launch digital-first mutual fund Torus Oro AMC [Asset Management Company].

As per the agreement, Cosmea Financial will hold a 74% stake in Torus Oro AMC, while OroWealth and its founders will hold the remaining 26%. Torus Oro AMC has applied for an AMC license with market regulator Sebi and expects to launch its operations this year, subject to applicable approvals.

The digital-first AMC aims to have Rs 10,000 crore in AUM over three years, focusing primarily on passive, smart beta, international, and retirement products. Nitin Agrawal, one of the founding members of OroWealth, will be the CEO of Torus Oro AMC and will be heading the business along with his other founding members, who will also join the team.


“Mutual fund industry is going through a tectonic shift driven by technology and innovation. We are excited about building a digital AMC with a technology-first approach across the three verticals - distribution, fund management, and operations. We will empower distribution partners and customers with sophisticated portfolio analytics tools and use cutting-edge data analysis techniques to augment fund research and optimize fund operations with automation. With Torus as our partner, we are committed to offering the most customer-centric products and driving innovation in the mutual funds market,” said Nitin Agarwal, CEO designate, Torus Oro Wealth.

Cosmea Financial Holdings will bring necessary capital and its distribution strength, both digital and physical, while the OroWealth management team will bring in technology and current distribution tie-ups - which includes Banks, Telecom etcetera to the venture.