For Groww, the partnership brings in a global asset manager with deep experience in indexing and ETFs.
| Photo Credit:
Kesavan A N 1612
Groww Asset Management has completed State Street Investment Management’s strategic investment in its asset management business after receiving all necessary regulatory approvals. Under the transaction, State Street will hold a 4.85 per cent voting interest and a 23 per cent economic interest in Groww AMC, with the investment valued at around ₹580 crore. The transaction was first announced in January 2026.
The partnership is expected to strengthen Groww AMC’s capabilities across exchange-traded funds (ETFs), indexing and systematic investing, while also supporting product development, distribution, and access to global markets.
The tie-up comes as passive investing gains scale in India. Passive funds’ assets under management stood at ₹14.74 lakh crore as of April 2026, with ETFs accounting for ₹11.43 lakh crore, according to data cited by Groww.
For Groww, the partnership brings in a global asset manager with deep experience in indexing and ETFs.
Groww AMC has been expanding its product suite beyond active mutual funds, with ETFs and passive products providing investors exposure to specific sectors, themes, and investment strategies. The company is also looking to build a GIFT City platform that would provide Indian investors access to global investment opportunities and diversified exposure across international markets.
The investment will also give State Street a larger presence in India’s expanding asset management market. When the transaction was announced, State Street said the partnership would help it strengthen its presence in India and enable the delivery of Indian-focused investment strategies to clients globally.
“Having State Street Investment Management as an investor and partner brings valuable global experience and perspectives that can help us strengthen our capabilities and build for the long term,” said Harsh Jain, Co-founder, Groww.
The transaction combines State Street’s global investment expertise with Groww’s digital investment platform and distribution capabilities, with the two companies looking to build products and investment solutions for a wider set of Indian investors.
Published on August 31, 2026
