Bhubaneswar, Sep 03: Nexedge Capital, the independent wealth management and multi-family office firm, today announced its expansion into Odisha with the launch of its Bhubaneswar office, strengthening its presence in one of India’s fastest-growing wealth markets. As part of the expansion, the firm has appointed Upendra Swain as Founding Team to lead its business across the state.
The move is part of Nexedge Capital’s broader strategy to deepen its presence across India’s emerging wealth centres, where rising entrepreneurship, sustained economic growth and increasing financialisation are driving demand for independent wealth advisory beyond the country’s traditional financial hubs. Today, Nexedge Capital advises over 1,300 ultra-high-net-worth individuals and families, manages more than USD 3 billion in assets under management and operates across 11 cities with over 240+ professionals.
Odisha has emerged as one of India’s fastest-growing state economies, with a gross state domestic product projected to cross ₹10 lakh crore and growth consistently outpacing the national average. Supported by sectors such as mining, metals, manufacturing, infrastructure, information technology and services, the state is witnessing sustained wealth creation, a growing entrepreneurial ecosystem and increasing demand for sophisticated financial advice.
Bhubaneswar, together with Cuttack, has evolved into Odisha’s principal wealth corridor and is estimated to be home to several thousand high-net-worth households with investible assets exceeding ₹10 crore. Coupled with rising entrepreneurial activity and increasing financialisation, the region presents a compelling opportunity for independent wealth management.
To lead its Odisha operations, Nexedge Capital has appointed Upendra Swain as Founding Team. Swain brings more than 15 years of experience in wealth management, having held leadership roles at 360 ONE Wealth, Axis Bank, HDFC Bank and Nippon India AMC. He has advised high-net-worth and ultra-high-net-worth clients across investment advisory, portfolio construction and wealth planning, bringing deep market knowledge and long-standing client relationships.
Commenting on the expansion, Nishit Doshi, Founding Partner, Nexedge Capital, said:
“We are witnessing a structural shift in how wealth is being created across India. Increasingly, entrepreneurial wealth is emerging from cities beyond the traditional financial centres, creating demand for independent, long-term wealth advice backed by deep market expertise. Odisha reflects this shift. With Upendra leading our business, we are well positioned to build enduring client relationships and deliver institutional wealth management, family office and private market solutions to entrepreneurs and business families in the region.”
Upendra Swain, Founding Team, Odisha, Nexedge Capital, said:
“Odisha is entering an interesting phase of wealth creation, driven by rising entrepreneurial activity, growing affluence and evolving investment preferences. This creates a strong opportunity for independent wealth management that is aligned to the long term interests of clients. I look forward to building Nexedge Capital’s presence in the state and working with entrepreneurs, business owners and families to provide thoughtful, personalised advice as their wealth and aspirations evolve.”
Nexedge Capital is an independent wealth management and multi-family office firm serving entrepreneurs, business owners, ultra-high-net-worth individuals and family offices. As wealth creation broadens across India, the firm continues to expand across emerging wealth markets, delivering institutional wealth management, family office and private market solutions through experienced advisers and deep market expertise.