'First-gen founders take bigger investment risks'

India’s markets are minting a new class of first-generation millionaires: entrepreneurs who’ve scaled ideas into Initial public offerings (IPOs) and unlocked unprecedented personal wealth.

- Shipra Singh

Unlike legacy high-net worth individuals, they're navigating wealth creation for the very first time.

In an interview with Mint, Ashish Shanker, managing director (MD) and chief executive officer (CEO), Motilal Oswal Private Wealth, shares how these new-age millionaires invest and approach wealth differently than the legacy high net worth individual (HNIs) or family offices.

We're seeing the rise of a much younger set of millionaires and even billionaires in India as the startup ecosystem matures. These are founders who built firms over 10-15 years, raised venture capital, scaled aggressively and are now monetizing, either through IPOs or stake sales.