Brands
Balram Bhagat joins The Wealth Company to lead pensions and products
MUMBAI: The Wealth Company, part of the Pantomath Group, has appointed Balram Bhagat as managing partner for products and pension, marking a bold step in its expansion plans.
A veteran of India’s pension and mutual fund industry, Bhagat brings over 30 years of experience in building financial institutions, promoting pension adoption, and advancing financial inclusion. He is set to strengthen the company’s leadership, enhance its product suite, and drive scalable growth across investment offerings and distribution channels.
Bhagat was the founding CEO of UTI Pension Fund, where he helped the organisation grow into India’s third-largest pension fund, managing over Rs 4,00,000 crore under the National Pension System. His leadership won the fund numerous national and international awards for innovation, governance, and excellence in pension management.
Prior to UTI Pension Fund, Bhagat held key positions at UTI Mutual Fund, including head of product sales, championing socially focused schemes and micro-pension initiatives. He also led state-level financial inclusion programmes, such as the Mukhyamantri Kanya Suraksha Yojna, broadening access to financial literacy and savings products in underserved communities.
The Wealth Company founder, MD, and CEO Madhu Lunawat said, “Balram Bhagat is a pioneering force in India’s pension ecosystem. His strategic vision, deep knowledge of product innovation, and track record in scaling institutions will be invaluable as we expand our footprint in the retirement space.”
Bhagat added, “I am thrilled to join The Wealth Company at this transformative stage. It is inspiring to see a young and dynamic founder institutionalising asset management with fresh ideas. My focus will be on creating scalable, purpose-driven solutions that advance financial inclusion and generate long-term value for stakeholders.”
Bhagat holds an M.A. in Economics, an MBA in Marketing, and is CAIIB-qualified. He currently serves as an independent director on the board of LIC Mutual Fund and has previously been a member of PFRDA’s Pension Advisory Committee.
Brands
Aman Gupta’s OFF/BEAT secures Rs 100 crore seed funding round
Bessemer backs new venture betting on AI and India’s digital shift
MUMBAI: Aman Gupta has raised Rs 100 crore in seed funding for his new venture OFF/BEAT, with Bessemer Venture Partners leading the round as it bets on a new wave of AI-led, consumer-first businesses in India.
The funding marks an early but significant push for OFF/BEAT, which is positioned to tap into a rapidly evolving market shaped by a digitally native generation and advances in artificial intelligence. The venture aims to build at the intersection of culture and technology, where brand identity and innovation increasingly go hand in hand.
Gupta, best known for co-founding boAt and scaling it into a Rs 3,000 crore-plus business, is now looking to apply those learnings to a new playbook. His focus this time is not just on building a consumer brand, but on leveraging AI and global networks to accelerate growth.
OFF/BEAT founder Aman Gupta said, “Having built from scratch before, I know what capital can do and what it cannot. This time, I was looking for partners with a global perspective who can help me leverage technology and AI, because that is where the future lies. Bessemer’s track record with companies like Anthropic, Shopify, Canva and LinkedIn says it all.”
The choice of investor reflects that ambition. Bessemer Venture Partners has backed global technology players such as Anthropic, Shopify, Canva and LinkedIn, bringing not just capital but strategic support and global reach.
Bessemer Venture Partners partner Anant Vidur Puri said, “We back founders who see around corners. Aman saw how a new India would come to think about aspiration, identity and quality, and built boAt as proof. He is now applying that same instinct to a market being reshaped by AI and by a generation with entirely new expectations.”
The investment comes at a time when India’s startup ecosystem is being reshaped by both consumer behaviour and technological disruption. Founders are increasingly expected to understand not just products, but the cultural shifts that drive adoption.
For OFF/BEAT, the journey is just beginning, but the signal is clear. In a market where attention is fleeting and expectations are rising, building something truly distinctive may be the only way to stay on beat.
