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She Saw What Big Investors Missed in India’s Small Towns—Now Manages ₹10,000 Crore

Madhu Lunawat, a chartered accountant from Assam, spotted an untapped goldmine in India’s Tier 2 and Tier 3 industrial towns—well-run SMBs that lacked access to growth capital. While many investors overlooked these regions, she saw potential where others saw risk.

After stints at Infosys, ASREC, and Edelweiss, she co-founded Pantomath Group and later launched The Wealth Company, a private equity firm focused on empowering small and mid-sized businesses. Her mission? Help profitable but capital-constrained businesses unlock their next phase of growth—without relying solely on debt.

She travelled across the country, meeting entrepreneurs who built Rs 300+ crore businesses with limited resources. Through equity funding, Lunawat helped them scale, professionalize management, and access broader markets. Today, The Wealth Company manages ₹10,000 crore in assets and supports 25 high-growth SMBs, with portfolio firms clocking over 50% CAGR in revenue.

The firm’s quick two-month deal closures and investor-first philosophy have drawn in Indian business owners as Limited Partners. With funds like Bharat Value Fund-II and III, Lunawat’s vision is reshaping India’s private equity landscape—one small-town success at a time.

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