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Olympic gold medalist and Indian ace shooter, Abhinav Bindra, has started a venture capital fund to invest in startups. He has set up an incubation fund called Shooting Star LLP with an initial investment of $2 Mn, reported ET. The incubation fund is created in an equal partnership with consulting firm Franchise India.
Abhinav said, “This is my first widespread and extensive business venture. A startup is very much like an athlete’s life… There’s no guarantee for success. There are only challenges but that’s a life I’ve lived for the past 20 years.”
“The fund will invest in scalable formats with specialised domain expertise in areas such as emerging sports academies, sports injury, rehab, tech, equipment and training, health apps, child development, holistic wellness, organic foods and dairy. The focus of the fund will be services,” said, Gaurav Marya, president of franchising and consulting firm Franchise India Holding.
With this VC fund, Abhinav has become the second sports personality from India after cricketer Yuvraj Singh had set up YouWeCan Ventures to invest in startups. A few of its investments include Vyomo, Edukart, JetSetGo, Intelligent Interfaces among others.
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