MUMBAI: The Wealth Company, backed by Pantomath Group, on Friday said it has received Sebi approval to launch its mutual fund business. This made the Wealth Company the first fund house in India to be founded by a woman to receive Sebi nod to start an MF business.The company is led by Madhu Lunawat, also a co-founder of the Pantomath Group, a leading investment banking firm in the mid-market segment. Currently, of the nearly 50 fund houses in the country, only one, Edelweiss MF, is headed by a woman, Radhika Gupta, as its managing director & CEO.Lunawat, a chartered accountant by training, is the first Indian woman to independently set up and receive Sebi approval for a non-institutional mutual fund house, a release from the company said. Before co-founding Pantomath, Lunawat had stints with Infosys, ASREC, and the Edelweiss group.“This is not just a moment for me — it’s a moment for every woman who wants to build, lead, and reshape the financial landscape,” Lunawat told TOI. She will be leading the new fund house as its MD & CEO. “We’re here to build something that’s intelligent, long-term, and deeply aligned with the real needs of Indian investors,” she said.The fund house will leverage technology to have a strong presence in the hinterlands. It will also have a client-first approach, she said.