Angel One Wealth Ltd., a Mumbai-based wealth management firm, said it had infused ₹250 crore capital to build technological infrastructure and market footprint.

The wealth management firm said that it was in the process of “developing an omnichannel wealth-tech platform comprising three integrated business verticals – HNI, UHNI and Alternate Assets.” The firm said it was “assembling a team of wealth managers, market strategists and technology specialists to operate it.”

“We want to reimagine wealth management for India’s HNIs and UHNIs on the bedrock of deep domain expertise and the power of technology,” said MD & CEO Srikanth Subramanaian.

The expansion plans come at a time when high networth individuals (HNIs) are growing at a compound annual growth rate of 16%, Angel One said in a statement.