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:
- Who is planning to launch $400 million VC fund for startups? Binny Bansal
- Recently Flipkart Co-founder Binny Bansal sold his shares worth about ____ to Tiger Global. $14 million