Avendus Wealth and Hurun India launch the U40 List, the third cohort in the Avendus Wealth – Hurun India Uth Series 2025, recognising 201 exceptional young leaders making a significant impact across the Indian industry.
Apurva Sahijwani, MD & CEO, Avendus Wealth Management, said "India’s under-40 entrepreneurial cohort signals a clear shift in both scale and substance. Collectively, the U40 leaders oversee enterprises valued at USD 357 bn, nearly one-eleventh of India’s GDP, and employ more than 4.4 lakh professionals, underscoring the economic influence already exercised by this generation. Software products and services remain the most represented sector, alongside meaningful participation from healthcare, logistics and financial services, pointing to where innovation, capital and execution are converging. Equally notable is the dominance of first-generation founders, who account for over 83% of the list, reflecting how India’s growth narrative is increasingly being shaped by self-made leadership.
The U40 List marks the culmination of the Uth Series 2025, our first branded content collaboration with Hurun India. Over the year, the series has traced the progression of entrepreneurial leadership across age cohorts, responding to a growing demand for data-led perspectives on how wealth, influence and institution-building are evolving in India. The U40 List brings together 201 first and next-generation entrepreneurs who sit at the intersection of scale, responsibility and long-term value creation.
At Avendus Wealth Management, our engagement with founders is shaped by these moments of transition, where ambition meets complexity. In this context, wealth management extends beyond capital stewardship to include helping entrepreneurs navigate growth, manage risk, plan succession and make decisions that endure across cycles. As part of one of India’s leading financial services groups, we approach this partnership with a holistic lens. Much like the U40 cohort itself, diverse in sectors, cities and generational backgrounds, our capabilities span growth capital, structured credit, capital markets access, portfolio advisory and intergenerational planning, enabling us to support founders not only in scaling businesses, but in shaping durable legacies.”
Anas Rahman Junaid, Founder & Chief Researcher, Hurun India, said, “India’s new economic engine is increasingly powered by its young leaders, and the Avendus Wealth – Hurun India U40 List 2025 captures this shift with 201 exceptional achievers who are already reshaping the country’s value creation landscape. Together, they lead enterprises worth USD 357 bn (INR 31 lakh cr) and employ over 4,43,000 people, underscoring the scale of impact being generated by India’s U40 cohort.
A remarkable new generation is redefining what career peaks look like in India, with many in their mid-thirties already building category-leading businesses across SaaS, FinTech, Healthcare, Clean Energy, Logistics and Consumer Brands. The presence of 15 outstanding women – from legacy custodians to self-made founders – reflects how innovation, leadership and sustainable value creation are now being driven from a far more diverse base.
India’s innovation map is expanding faster than ever, and this year’s honourees illustrate how entrepreneurship has moved far beyond traditional boundaries. While Bengaluru and Mumbai remain the strongest hubs, cities like Gurugram, New Delhi, Hyderabad and Ahmedabad are rising sharply, while global centres such as San Francisco, New York and London highlight the increasing international footprint of Indian founders. Institutions like IIT Kharagpur, IIT Delhi, IIT Madras and IIT Bombay continue to serve as important launchpads of entrepreneurial talent.
First-generation founders are clearly at the heart of India’s startup story, with 83% of this year’s U40 honourees having built their companies from the ground up. Collectively raising nearly USD 22 bn, they are deploying capital with focus and discipline – strengthening products, expanding markets and scaling technology with intent. From late-stage unicorns to listed market leaders, India’s under-40 entrepreneurs embody a rare combination of innovation at scale, financial prudence and global ambition."
About Avendus Wealth Management
Avendus Wealth Management, the wealth business of Avendus Group, manages an AUM of over USD 9 bn. Started in 2010, it caters to a wide range of clients including leading family offices, UHNIs and corporates. The diverse profile of its clients is a testimony to its ability to serve them across life stages and business cycles by crafting bespoke and differentiated solutions to grow and protect wealth. Avendus Wealth Management has been consistently recognised by reputed global platforms such as Asian Private Banker, Euromoney and The Asset Triple A.
About Avendus Group
Avendus Group is a leading financial services firm with a presence in the areas of Investment Banking, Institutional Equities, Wealth Management, Credit Solutions and Asset Management. Established in 1999 in Mumbai, India, Avendus is today present in 11 cities across India, US and Singapore. Avendus partners with the Indian entrepreneur ecosystem to provide differentiated solutions that enable clients to meet their strategic aspirations.
