Binny Bansal to launch $400 million venture capital fund for startups: Reports

बिन्नी बंसल स्टार्टअप्स के लिए $ 400 मिलियन वेंचर कैपिटल फंड लॉन्च करेंगे: रिपोर्ट

Points to Remember:

  • Flipkart Co-founder Binny Bansal is planning a $400-million venture capital fund to support startups.
  • The fund’s primary focus will be on Indian startups, however, it will also back entrepreneurs in Southeast Asia.
  • Bansal, who quit as Flipkart’s Group CEO last year, is expected to launch the fund, based out of Singapore, by this year’s end.
  • Earlier Bansal sold his shares worth about $14 million to Tiger Global.
  • The fund is yet to be named.

What is Venture Capital?

  • Venture capital is financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential.
Important Possible questions based on above News:
  1. Who is planning to launch $400 million VC fund for startups? Binny Bansal
  2. Recently Flipkart Co-founder Binny Bansal sold his shares worth about ____ to Tiger Global. $14 million

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