Zerodha’s Investment in Capitalmind Financial Services

Zerodha, led by Nithin Kamath, has recently invested in Capitalmind Financial Services, a portfolio management firm registered with SEBI and founded by Deepak Shenoy. This funding initiative is part of Rainmatter, Zerodha’s investment arm dedicated to nurturing innovative financial projects.

Sharing this news on X, Nithin Kamath expressed how the journey has come full circle. He mentioned how surreal it feels to reflect on their relationship over the years.

Kamath recalled, “Deepak Shenoy was one of the first individuals I discussed the Zerodha idea with. At the beginning, he kindly agreed to lend his credibility by featuring his name on our website as an advisor.” He also expressed happiness in supporting Shenoy’s venture through Rainmatter, accompanied by a photo with Shenoy.

Deepak Shenoy, in response to Kamath’s announcement, fondly remembered the early days. He shared, “Many thanks, Nithin! It’s hard to believe that I once had credibility to lend to Zerodha! I remember driving around Gurgaon with the initial Zerodha forms in my Hyundai Accent, explaining to people how much brokerage they could save.”

Many thanks, Nithin! It’s hard to believe that at one time, I had credibility to give to Zerodha! I remember carrying the early Zerodha forms in my Hyundai Accent in Gurgaon – telling people how much brokerage they would save 🙂
— Deepak Shenoy (@deepakshenoy) August 6, 2025

Exciting Developments at Capitalmind

Recently, Shenoy’s firm received a mutual fund license, marking this investment as their inaugural institutional funding round. In an interview with Moneycontrol, Shenoy highlighted their longstanding relationship. He mentioned, “We’ve been acquainted for years and have had multiple discussions regarding our businesses. Rainmatter’s strategy is hands-off, aligning well with Zerodha’s core values. We have also engaged in talks with Zerodha Fund House.”

Zerodha’s Growth Journey

Founded in August 2010 by Nithin and Nikhil Kamath, Zerodha began as a bootstrapped entity aiming to simplify trading and reduce costs in India. Over the years, it has grown tremendously, achieving unicorn status in 2019 with a self-assessed valuation of approximately $1 billion following an ESOP buyback. In 2020, the company sought licensing to establish an AMC mutual fund in India and officially launched its fund house in 2023.

Services Offered by Zerodha

Zerodha provides services in equity trading, derivatives trading, currency trading, commodity trading, and mutual funds. Throughout its evolution, the firm has emerged as the largest stock brokerage in India, resulting in significant wealth for the Kamath brothers.