Madhu Lunawat makes history as first Indian woman to set up a mutual fund business

The Wealth Company, part of the Pantomath Group, announced on Friday that it has received approval from the Securities and Exchange Board of India (Sebi) to launch its mutual fund business, becoming the first fund house in India founded by a woman.

The asset management company is led by Madhu Lunawat, who is also the Co-founder and Executive Director of the Pantomath Group.

Currently, there are approximately 46 existing fund houses in India, with a few having recently received approval to begin operations. Among them, only one fund house – Edelweiss Mutual Fund – is headed by a woman. Radhika Gupta serves as the Managing Director and CEO of Edelweiss Mutual Fund.


Also Read | The Wealth Company receives Sebi approval to commence MF business

Lunawat is the first Indian woman to independently set up and receive Sebi’s approval for a fund house, according to a press release. Before co-founding Pantomath, she held positions at Infosys, ASREC, and the Edelweiss Group, where she served as CFO of Edelweiss ARC.

“This is not just a moment for me – it’s a moment for every woman who wants to build, lead, and reshape the financial landscape,” Lunawat told TOI. “We’re here to build something that’s intelligent, long-term, and deeply aligned with the real needs of Indian investors,” she said.

With this regulatory milestone, The Wealth Company formally enters the Rs 74.41 trillion mutual fund industry under its new identity – The Wealth Company Mutual Fund.

Sebi granted the Certificate of Registration to the company on July 18, enabling it to commence operations as a registered Asset Management Company (AMC). The Wealth Company Mutual Fund aims to bring a unique proposition to the market by combining rigorous, bottom-up, and data-intensive research methodologies—typically seen in private equity – with the simplicity and accessibility needed by retail investors, the release added.

As India’s youngest AMC, The Wealth Company Mutual Fund seeks to democratize wealth creation for retail investors across the country. It has a strong focus on Tier-3 and beyond markets, which have been witnessing growing economic activity and rising surplus incomes. These, the company believes, deserve to be channeled into active fund management to participate in the country’s promising development journey as part of the Viksit Bharat agenda.

Also Read | SBI FDs offer up to 6% returns in short term. Should investors explore debt mutual funds instead?

The Wealth Company’s foray into mutual funds builds upon its remarkable success in the alternate investment space, where it emerged as one of the fastest-scaling platforms in recent years.

According to the press release, within a short span, the company built a robust portfolio across equity and structured strategies, attracting marque investors and delivering consistent performance. This experience in managing sophisticated investment products has laid a strong foundation for its mutual fund venture, positioning fund houses to offer both innovation and stability from day one.

"Over the years, mutual funds have been the most trusted and optimum investment platform for retail investors. As the country progresses towards its Viksit Bharat agenda, increasing number of retail investors have an opportunity to play a strong role in national building and the ensuing wealth creation that would follow,” said Madhu Lunawat, Founder, MD and CEO of The Wealth Company Asset Management Holdings Private.

She further adds, “Our entry into mutual funds is driven by a commitment to bring the same disciplined, data-driven investment philosophy honed in our alternative ventures to a wider audience. We believe in democratizing wealth creation by offering high-quality, outcome-oriented products and empowering our MFD partners to serve investors effectively, particularly in the promising Tier 3 and beyond markets, aligning with India's Viksit Bharat agenda.”