Nikhil Kamath Expands WTF’s Creative Portfolio With Acquisition of BTG

Mumbai-based independent creative agency BTG (By The Gram) has been acquired by Nikhil Kamath’s media and venture platform, WTF, marking the company’s second acquisition of a founder-led creative agency after One Hand Clap (OHC).

The deal represents another step in WTF’s strategy of building a portfolio of independent, culture-first creative businesses. Under the agreement, BTG’s founders—Aaliya Amrin, Eman Batliwalla and Danisha Kohli—will retain full operational and creative control of the agency, while gaining access to capital, WTF’s network, distribution infrastructure and organisational support to pursue larger client mandates.

Founded in 2018 without institutional backing, BTG has spent the past eight years establishing itself as one of India’s distinctive independent creative agencies. Today, it works with brands including Netflix, Prime Video, IKEA, Volkswagen, Bumble, Soho House, Marriott and Nykaa across luxury, beauty, hospitality, entertainment, technology, tourism, wellness, lifestyle and consumer sectors.

The founders say the agency was born at a time of major change in India’s brand and entertainment landscape.

“It was a happy mistake that turned out to be extremely good timing,” Danisha Kohli said.

At the time, global companies including Netflix, Prime Video, IKEA, Bumble and Soho House were entering India, while luxury content and premium consumer brands were rapidly expanding. Seeing traditional agency models struggling to keep pace, BTG positioned itself at the intersection of strategy, culture and commerce.

“We spoke their language and didn’t follow the traditional agency model, the laborious red tape, the billable hours nonsense. If we’d been too structured at the start, we’d have ended up with a cookie-cutter business. We needed to constantly challenge ourselves, keep an edge,” said Eman Batliwalla.

Kohli added, “What might have appeared to others as different opportunities felt like a singular one to us. We specialized in understanding that overlap and doubling down at the intersection.”

That approach helped the agency secure early assignments, including building the identity for filmmaker Zoya Akhtar’s production company Tiger Baby before later winning Netflix as a client.

While BTG built a reputation for its creative work, the founders also faced challenges as three women leading an agency in a competitive industry.

“I never wanted BTG’s story to be anchored in the female founders’ narrative. But shockingly, in most big pitches, we are made acutely aware of our gender. Circumventing the over-forty, grey-haired male counterpart that we unfailingly go up against — despite having the better pitch and a stronger portfolio — is something we have had to learn,” Amrin said.

Batliwalla shared, “In the advertising business, it still matters to come across as a seasoned, grey-haired, over-forty male. We expected it to some degree. We didn’t know how prevalent it was.”

Kohli added, “It did not get better. We made it better. We decided to revel in the bubble we’d created. Over time, we circumvented gatekeeping by leaning into it.”

Like many businesses, BTG also navigated the challenges brought on by the pandemic.

“We had to constantly align around staying lean — under 50 full-time employees. As long as we were growing and managing, we kept adapting to stay ahead of the industry. Of course, there were phases where we wondered: did we even make any money this year?” Batliwalla said.

Despite the market pressures, the founders chose to remain deliberately focused on sustainable growth, prioritising long-term client relationships, selective collaborations and a culture-first approach over rapid expansion.

Speaking about joining WTF, the three founders said, “BTG has always been deeply personal to us. We built this over eight years, slowly, carefully, client by client, with a very clear belief in the company we wanted to create. What made this feel right was that every conversation with Nikhil and his team was about where culture and brands are headed over the next decade, and whether we wanted to build that future together. This isn’t about changing what BTG is. It’s about finally having the infrastructure to take it where we always knew it could go.”

Batliwalla said the founders immediately recognised the strategic alignment with Kamath’s vision.

Commenting on the acquisition, Kamath said: “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. The most interesting creative companies coming out of India right now were never built for India alone. BTG has always known that. I just want to help them prove it.”

The acquisition comes amid a broader trend of consolidation among India’s independent creative agencies, as investors increasingly view founder-led creative businesses as strategic assets rather than conventional service providers. According to the companies, WTF’s acquisitions of One Hand Clap and BTG reflect that shift, focusing on long-term creative conviction rather than scale alone.

Looking ahead, BTG plans to deepen long-term client partnerships, invest in owned content, brands and intellectual property, and strengthen its senior creative and strategic leadership so the agency can continue growing beyond its founders without losing the creative philosophy that has defined it since 2018.

Despite the change in ownership, BTG confirmed that its team, client relationships and creative practice will continue unchanged under the leadership of Amrin, Batliwalla and Kohli as the agency begins its next phase with the backing of WTF.

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