Nikhil Kamath’s WTF has acquired BTG (By The Gram), a Mumbai-based creative agency, in a transaction that marks a significant milestone in India’s independent creative services sector. Khimani & Associates advised BTG and its founders on the deal, while Ascendus Law Partners acted for WTF, advising on diligence and transaction documentation.
Introduction
Nikhil Kamath-led WTF has acquired Mumbai-based creative agency BTG (By The Gram), marking its second acquisition in the creative services space after One Hand Clap (OHC). Founded in 2018 by Aaliya Amrin, Eman Batliwalla, and Danisha Kohli, BTG will continue to operate independently under its existing leadership, with its founders and team retaining operational and creative control.
BTG, built over eight years without institutional backing by its three founders, enters its next chapter while retaining its independent identity and creative leadership. As part of the deal, BTG gains access to capital, WTF’s network, and its distribution infrastructure, positioning the agency to pursue larger client mandates.
BTG works with brands including Netflix, Prime Video, IKEA, Volkswagen, Bumble, Soho House, Marriott, and Nykaa, providing strategy and creative services across beauty, hospitality, entertainment, technology, tourism, and consumer sectors.
Legal Teams Involved
Khimani & Associates — Advised BTG and its founders
Khimani & Associates advised Aaliya Amrin, Eman Batliwalla, and Danisha Kohli on this transaction. The transaction was led by the following team:
- Priyanka Khimani — Founder and Managing Partner
- Mohak Kapoor — Senior Associate
- Saniya Gandotra — Associate
Ascendus Law Partners — Advised WTF (Acquirer)
Ascendus Law Partners acted for WTF on this acquisition, advising on diligence and transaction documentation. The transaction team consisted of:
- Vasundhra Minocha — Partner
- Siddharth Tewari — Partner
- Virali Nagda — Principal Associate
- Muskan Dubey — Associate
- Sohair Wani — Associate
Significance and Impact
The acquisition marks WTF’s second in an independent creative agency, following One Hand Clap (OHC), and extends the platform’s strategy of building a portfolio of founder-led, culture-first creative businesses in India. The move highlights Kamath’s broader strategic push to consolidate and build a robust, institutional ecosystem of founder-led creative, branding, and content firms in India.
BTG’s expertise spans brand launches, repositioning, market expansion, and long-term brand building, positioning it as one of India’s leading independent creative agencies. Its ability to grow without institutional funding has further cemented its reputation as a resilient and innovative player in the industry.
The acquisition comes amid increasing investor interest in founder-led creative agencies. Through the acquisitions of OHC and BTG, WTF is building a portfolio of creative businesses focused on branding, content, and strategy. The transaction also reflects the growing role of boutique and mid-market law firms — Khimani & Associates and Ascendus Law Partners — in advising on India’s new-age economy deals. Track more such transactions on Deal Meter.
Zerodha co-founder Nikhil Kamath’s media and venture platform WTF has officially acquired Mumbai-based independent creative agency BTG (By The Gram), marking a significant transaction in the Indian creative services market. Financial details of the transaction have not been disclosed. With two founder-led creative agencies now under its umbrella, WTF’s portfolio strategy continues to take shape as a distinctive model in India’s independent agency landscape.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
