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Online mutual fund distribution platforms have become the new hot commodity for private equity investors. Chennai-based FundsIndia has seen its valuations surge five-fold in three years, while other online platforms, including Groww, Nivesh.com and Orowealth have raised early-stage capital in the last two months.
Cashing in on the growth, several new platforms such as Paytm and Paisabazaar, too, are entering the fray.
High interest in this space comes amid rapid asset growth in the fund industry, thanks to supportive market conditions. Also, the advent of technology and data penetration have given the much-needed fillip, industry observers said.
According to sources, Aditya Parekh-led Faering
