Nikhil Kamath's WTF doubles down on founder-led creative firms with BTG acquisition

Zerodha co-founder Nikhil Kamath's media and venture platform WTF has acquired Mumbai-based independent creative agency BTG (By The Gram), strengthening its push into India's growing ecosystem of founder-led creative businesses. The financial terms of the transaction were not disclosed.

The acquisition is the second by WTF in the independent creative agency space after One Hand Clap (OHC), signalling the platform's strategy of backing niche creative firms that operate independently while leveraging WTF's capital, distribution network and operating support.

What does the acquisition mean for BTG?

Founded in 2018 by Aaliya Amrin, Eman Batliwalla and Danisha Kohli, BTG will continue to function under its existing leadership, with the founders retaining full operational and creative control. The partnership is aimed at helping the agency compete for larger mandates while preserving the culture and creative approach that helped it build a strong client base without institutional funding.

Over the past eight years, BTG has worked with brands including Netflix, Prime Video, IKEA, Volkswagen, Bumble, Soho House, Marriott and Nykaa across sectors such as entertainment, hospitality, luxury, beauty, technology and consumer products. The agency has built its reputation on combining brand strategy with cultural insights rather than operating as a conventional advertising agency.

Explaining the rationale behind the deal, the founders said the decision was driven by a shared vision for where brands and culture are headed over the next decade. They said the partnership is not about changing BTG's identity but about gaining the infrastructure and scale needed to realise the agency's long-term ambitions.

Kamath said BTG stood out because of its distinctive creative philosophy and founder-led approach.

"BTG doesn't come along often. A creative business with a genuine point of view that's never been compromised. What Aaliya, Eman and Danisha have built has real cultural intelligence, and that isn't something you can manufacture."

He added that the most compelling creative companies emerging from India are built with global ambitions, and said he wants to help BTG realise that potential.

The deal reflects a broader trend of investor interest in independent creative agencies, particularly those built by founders with differentiated positioning. For BTG, the next phase will focus on deepening long-term client partnerships, investing in owned intellectual property and content, and expanding its senior creative leadership while continuing to operate independently under its founders.