In a notable example of professional ties coming full circle, Zerodha co-founder and CEO Nithin Kamath has invested in Capitalmind Financial Services, a SEBI-registered portfolio management firm led by Deepak Shenoy. The investment was made via Rainmatter, Zerodha’s long-term investment arm.
Sharing the news on social media, Kamath reflected on the early days of Zerodha, crediting Shenoy as one of the first individuals to support the startup by lending credibility as an advisor on the firm’s website.
“It is sometimes surreal how life comes full circle,” Kamath wrote. “Deepak Shenoy was among the first people I spoke to about the idea of Zerodha. He agreed to have his name on our website as an advisor when we were just starting out.”
Founded in 2010 by Nithin and Nikhil Kamath, Zerodha started as a bootstrapped venture with the mission to democratize stock trading in India by lowering costs and improving transparency. Today, it stands as India’s largest stock brokerage, with the Kamath brothers counted among the country’s top fintech entrepreneurs.
Responding to Kamath’s post, Shenoy fondly recalled the early partnership:
“Many thanks, Nithin! I remember carrying early Zerodha forms in my Hyundai Accent in Gurgaon—telling people how much brokerage they would save.”
According to Moneycontrol, this marks Rainmatter’s first external institutional investment in Capitalmind, which recently received a mutual fund license. Shenoy emphasized that the two firms have discussed their businesses for years and share a non-intrusive investment philosophy. Discussions have also taken place with Zerodha Fund House for potential collaborations.
The investment symbolizes not only a strategic business partnership but also the enduring power of mutual trust and early alliances in India’s evolving fintech landscape.
