Portfolio management firm Elever raises $1.1 million from Brand Capital, others

Portfolio management firm Elever has raised $1.1 million in a funding round from Brand Capital, the strategic investment arm of The Times of India Group, along with CXOs of global companies, existing investors, and promoters.

The Securities and Exchange Board of India (Sebi)-registered company uses a quantitative, rule-based approach that leverages factor-driven portfolio strategies and tactical methods to select stocks and allocate investment weightage. This approach aims to deliver risk-adjusted returns to individual investors and family offices while minimising human bias.

The funding comes at a time when affluent investors and institutions in India are increasingly seeking customised portfolio management services (PMS) to diversify beyond traditional asset classes. Elever plans to deploy the capital to scale its PMS business, strengthen brand presence, and deepen investor engagement.


Founded in 2020 by Anshul Sharan, Karan Aggarwal, Ram Subramaniam, and Santosh R, Bengaluru-based Elever currently manages assets worth around Rs 37 crore.

“Generally, people invest in specific themes like infrastructure or rural consumption, or they make sectoral investments. But what we have realised is that most of these models carry inherent biases, often influenced by various policy decisions and other factors,” said Sharan.

He added that Elever’s proprietary algorithm identifies key investment factors such as momentum, low volatility, and dividend yield to select stocks. The system assesses market conditions like bullish, bearish, or consolidation and rotates between factors accordingly.

According to Deloitte’s ‘Financial Wealth Management Services in India’ report, India’s wealth management market is projected to grow from $1.1 trillion in FY24 to $2.3 trillion by FY29, with an unmet demand of $0.4 trillion. Meanwhile, assets managed by PMS in India have nearly tripled since FY17, reaching approximately $445-450 billion by March 2025.

In July, Elever launched FactorCapro PMS, a product focussed on providing consistent monthly income, primarily targeting retirees.

“We see Elever as a frontrunner in the evolution of wealth-tech, leveraging automation and factor investing to deliver consistent, risk-adjusted outcomes. Elever’s technology-led, rule-based approach to portfolio management reflects the future of investing in India,” said Srini Vudayagiri, president and head of Brand Capital. The Economic Times is a part of The Times of India group.