The Wealth Company Asset Management, the asset management arm of the Pantomath Group, has committed Rs 460 crore (around $52 million) from its Bharat Value Fund (BVF) into Amnex Infotechnologies, an Ahmedabad-based technology solutions provider.
Amnex, founded in 2008 by Aditya Shah and Tapan Gosaliya, delivers integrated solutions across sectors including traffic management, utilities, mining, logistics, smart cities, mobility, and agriculture. It has developed more than 18 proprietary platforms that combine IoT, GIS, AI/ML, blockchain, and analytics to support large-scale, mission-critical operations.
Its offerings blend open digital public infrastructure-aligned platforms with proprietary tools, enabling service delivery and operational optimisation for diverse industries.
Madhu Lunawat, Founder and Managing Director of Wealth Company Asset Management, noted in a statement that India’s digital infrastructure investments rose to Rs 1.19 lakh crore in 2024, growing at nearly 10% CAGR, driven by major national programs including Digital India, India Stack, and the National AI Mission.
“As technology adoption accelerates across every sector, powerful economic tailwinds are taking shape, fuelled by platform-led transformations, intelligence-driven service delivery and universal last-mile access. In this fast-expanding white space, Amnex stands out with a proven track record, deep domain mastery and scalable technology capabilities, poised to unlock significant value and shape the next chapter of India’s digital growth story,” she added.
The company posted a 75% compound annual growth rate over the past three years while maintaining a return on capital employed above 40%. With an asset-light business model, strong order pipeline, and execution record, Amnex has positioned itself among India’s fastest-growing technology infrastructure players.
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“We stand at the threshold of a new era where artificial intelligence, contextual data, and connected infrastructure are not just tools—they are becoming the fabric of how people live, connect, and thrive,” said Aditya Shah, Founder and Managing Director, Amnex InfoTechnologies.
“At Amnex, our mission is to design systems that anticipate human needs, dissolve barriers, and unlock the true potential of digital infrastructure. With growth capital, deep expertise, and the courage to innovate at scale, we are ready to shape the operating system of tomorrow’s societies—more inclusive, more resilient, and profoundly human,” he added.
Bharat Value Fund, managed by The Wealth Company under the India Inflection Opportunity Trust, invests in late-stage, growth-focused enterprises aligned with India’s domestic consumption and manufacturing ambitions. The fund has been active in recent months, adding companies including Haldiram Bhujiawala and Prisma Global to its portfolio.
The Wealth Company, led by founder Madhu Lunawat, oversees nearly Rs 10,000 crore in client assets across multiple AIFs, including the Bharat Value Fund series and the India Inflection Opportunity Fund. On July 18, 2025, it also received SEBI’s final approval to operate as an asset management company under mutual fund regulations.
Edited by Kanishk Singh
