Gurgaon, Haryana, July 11, 2024 | Grip- India’s largest high-yield investment platform, today announced a significant expansion of its business into fund management and portfolio management distribution services. Grip’s existing suite of investment products, corporate bonds and securitised debt instruments (SDIs) will now also be available for investors seeking to invest via a managed structure.
With this, Grip will now have 3 lines of business – its online investment platform, Grip Invest, and its newly launched SEBI-regulated Alternative Investment Funds (AIF) and Portfolio Management Services (PMS) verticals.
As a part of strategic expansion, Vaibhav Laddha, formerly the Chief Business Officer at Grip Invest, has been elevated to CEO at Grip Invest. In the last 2 years at Grip Invest, Vaibhav has played a pivotal role in anchoring significant growth initiatives, driving strategic business partnerships, and building newer distribution channels. He also oversaw and delivered an impeccable investor experience, making Grip Invest the most preferred OBPP platform among retail investors.
Nikhil Aggarwal, Founder of Grip, will step into the role of Group CEO at Grip, working closely with Vaibhav as well as overseeing this expansion in business lines. Nikhil will also continue to co-lead Electrifi Mobility, a full-lifecycle management platform for EVs co-promoted by Grip.
Commenting on the strategic structuring and new leadership, Nikhil Aggarwal, Founder and Group CEO, Grip, said, “The fund management business is a horizontal expansion which leverages the incredible suite of investment options, especially SDIs, that we have been able to bring to market. Vaibhav has been associated with Grip since before we launched and intricately knows the business. I am fortunate to have a partner in him who not only has a deep strategic acumen, but also has a complete alignment to our vision, and shares the same compass on taking the decisions that matter.”
On his new role, Vaibhav Laddha, CEO, Grip Invest, said, I am excited to lead Grip Invest into its next phase of exponential growth. Our investment products, especially the SDIs, coupled with our continuous innovation to bring an incredibly hassle-free investment experience for retail investors have made us a truly differentiated high-yield investment platform. We have witnessed a 15% month-on-month growth over the last 6 months with growing market share and we are on track to double our business by the end of this financial year.
As a SEBI OBPP licensed online platform, Grip Invest has empowered 26,000 investors to make over ₹1,000 crore in investments through high-yield fixed-income products like corporate bonds and SDIs. For the month of May’24, Grip Invest facilitated 12% of pan-India retail investments in this category and 80% of all investments in SDIs. Now, investors will benefit from the additional flexibility of subscribing to Alternative Investment Funds (AIFs) or Portfolio Management Services (PMS). This development allows Grip Invest to tend to a larger pool of investors, while giving investors the autonomy to choose between an active direct investment approach or a passive fund management strategy.
Grip’s strategic expansion into fund management and portfolio management distribution services and Vaibhav Laddha stepping into the role of CEO of the investment platform, marks a new chapter in Grip’s growth story. As a group, Grip remains committed to diversify its offerings and better serve its growing investor community, with innovative, high-yield investment solutions and democratised investment opportunities in India.
