Mutual fund investments in new-age firms touch ₹1.77 lakh crore
Domestic mutual funds have doubled their investments in about two dozen new-age companies, reaching ₹1.77 lakh crore by December 2025—nearly double compared with ₹95,000 crore a year earlier (end-2024).
This jump shows growing trust in India's digital commerce scene, with big bets on names like Eternal, Swiggy, Nykaa, and PB Fintech.
Major changes in fund holdings
Swiggy's holdings more than tripled after a huge ₹10,000 crore institutional sale in December.
Eternal was the top pick for funds, making up over 40% of total investments in these new-age firms.
Excluding companies that listed in 2025, fund stakes still rose more than 60% across major players like ICICI Prudential, Axis, and HDFC.
Funds back steep decliners' bets
Despite steep price drops for Ola Electric (down 58%) and FirstCry (down 56%), funds increased their stakes—betting on long-term winners as digital growth outpaces the economy.
Varun Sharma from Motilal Oswal summed it up: "Future growth lies in the digital space..."
Up ahead: PhonePe, Zepto, Oyo and Infra. Market are planning IPOs that could raise ₹50,000 crore—with mutual fund participation boosting credibility for global investors.