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Family offices of Nikhil Kamath, Zomato’s Goyal, IIFL to invest in Bluestone

Economic Times

Economic Times · 1y ago

Family offices of Nikhil Kamath, Zomato’s Goyal, IIFL to invest in Bluestone

Zerodha cofounder Nikhil Kamath is investing Rs 100 crore in Bluestone, a jewelry retailer, alongside other notable investors such as Zomato founder Deepinder Goyal and CarDekho CEO Amit Jain. The funding round also includes participation from financial service firm IIFL. Bluestone founder and CEO Gaurav Singh Kushwaha confirmed the investment.

Related News

BlueStone to get ₹550cr funding, Kamath to infuse ₹100cr: Report

Inshorts · 1y ago

BlueStone to get ₹550cr funding, Kamath to infuse ₹100cr: Report

Zerodha co-founder Nikhil Kamath plans to invest Rs 100 crore into omnichannel jewellery retailer Bluestone as part of a funding round. Other notable participants in the funding round include Zomato founder Deepinder Goyal and CEO Amit Jain. Bluestone is in the final stages of securing a funding round of around Rs 550 crore ($65 million), which would value the company at approximately Rs 3,600 crore ($440 million). The investment will be used to expand the omnichannel presence and invest in technology.

Nikhil Kamath's WTF Fund to back young entrepreneurs' fashion, beauty startups

Money Control

Money Control · 1y ago

Nikhil Kamath's WTF Fund to back young entrepreneurs' fashion, beauty startups

Nikhil Kamath, co-founder of Zerodha and True Beacon, has unveiled the "WTF Fund" initiative. This fund aims to support young entrepreneurs under 22 years of age in the sectors of fashion, beauty, and home brands. Kamath, along with other esteemed individuals, will provide funding and mentorship to empower these budding entrepreneurs. The WTF Fund comes after Kamath's significant investments in Nazara Technologies and Bluestone, and his plans to invest in Ather Energy, an electric scooter company.

IIFL Fintech Fund collects $23 mn in second outing

VCCircle

VCCircle · 7m ago

IIFL Fintech Fund collects $23 mn in second outing

IIFL Fintech Fund, part of India's IIFL Group, has closed its second fintech fund at Rs 200 crore ($23 million), matching its first fund. Unlike the first fund, which had backing from IIFL companies, the new fund attracted wealthy individual investors and family offices. The fund targets investments in burgeoning fintech sectors, including AI. Over three years, IIFL Fintech has invested in 14 fintech firms, achieving notable revenue growth and a profitable exit from TrustCheckr.

Fintech investor Cedar-IBSi Capital raises commitments worth Rs 100 crore for maiden fund

YourStory

YourStory · 8d ago

Fintech investor Cedar-IBSi Capital raises commitments worth Rs 100 crore for maiden fund

Cedar-IBSi Capital, a fintech-focused investment firm, secured commitments of approximately Rs 100 crore for its inaugural fund, with additional soft commitments between Rs 10 crore and Rs 15 crore. The firm, specializing in B2B financial infrastructure, has backing from major institutional investors like Muthoot Finance and IIFL Capital, and participation from over 20 family offices. The fund aims to invest in pre-Series A and Series A rounds, targeting a portfolio of 10-15 companies over its lifecycle.

Challenges of raising two billionaires: Zerodha brothers Nithin and Nikhil Kamath's mother says ‘they were not normal’

Economic Times

Economic Times · 2m ago

Challenges of raising two billionaires: Zerodha brothers Nithin and Nikhil Kamath's mother says ‘they were not normal’

Revathi Kamath, mother of Zerodha founders Nithin and Nikhil Kamath, is writing an autobiography detailing the challenges of raising her unconventional sons. Her story highlights personal sacrifices and struggles after marriage, as her life focused on family. Beyond her role as a supportive mother, Kamath also developed a professional identity, founding a floral business and engaging in environmental sustainability work. Her announcement has resonated widely, garnering praise for her strength and influence on her sons' success.

Indian Family Offices Are Taking Interest In Deeptech: Piyush Goyal

OutlookIndia

OutlookIndia · 6m ago

Indian Family Offices Are Taking Interest In Deeptech: Piyush Goyal

Indian family offices are increasingly investing in deeptech startups, following the example of foreign investors, according to Union Minister Piyush Goyal. These family offices bring patient capital to technology ventures, contributing significantly to venture capital investments in India. In 2022, they accounted for $9.6 billion of the $23.7 billion invested in Indian startups. While the government encourages investment in technology, it avoids directing how pension funds or insurance capital should be utilized.

Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

IndianStartupNews

IndianStartupNews · 1y ago

Zerodha co-founder Nikhil Kamath to invest in Ola Electric-rival Ather Energy: Report

Zerodha's Co-founder, Nikhil Kamath, is set to invest in Ather Energy, an EV maker competing with Ola Electric. The investment will be a secondary share sale, with Nikhil acquiring existing investors' shares in the company. Ather Energy recently raised Rs 900 crore in funding and offers electric two-wheelers such as the 450S and 450X models. Notable investors in Ather Energy include Hero MotoCorp, GIC, and Sachin Bansal.

Gaming, e-sports to grow much bigger in 10 years: Nikhil Kamath

Money Control

Money Control · 1y ago

Gaming, e-sports to grow much bigger in 10 years: Nikhil Kamath

Zerodha Co-founder Nikhil Kamath said the gaming and e-sports industry will grow much bigger in the next 10 years. "[It] will grow at a pace faster than the old-school content," Kamath stated. His remarks come as gaming company Nazara Technologies announced it'd issue shares worth ₹100 crore to Zerodha's founders Nikhil and Nithin Kamath.

Zerodha's Kamath brothers donated Rs 110Cr in a year to charity; Shiv Nadar tops the list: Hurun India

IndianStartupNews

IndianStartupNews · 1y ago

Zerodha's Kamath brothers donated Rs 110Cr in a year to charity; Shiv Nadar tops the list: Hurun India

Zerodha co-founders Nithin and Nikhil Kamath have been recognized as philanthropists for their donation of Rs 110 crore to organizations focusing on climate change and environmental sustainability. Nikhil Kamath, at 37, has become the youngest philanthropist to be featured on the list. The top spot on the list was claimed by Shiv Nadar, who made a contribution of Rs 2,042 crore towards the promotion of art and culture. Nikhil Kamath has also committed to 'The Giving Pledge', an initiative by Bill Gates and Warren Buffet. Mumbai is noted as India's philanthropy capital.

Grapevine: BlueStone ropes in bankers for IPO; former TPG exec to launch fund

VCCircle

VCCircle · 10m ago

Grapevine: BlueStone ropes in bankers for IPO; former TPG exec to launch fund

Jewellery startup BlueStone has enlisted Axis Capital, IIFL Securities, and Kotak Mahindra Capital to handle its $200 million IPO scheduled for Q2 2023. In other news, a former TPG executive is launching a fund.

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