22 March, 2016, New Delhi: India’s start shooter and Olympic gold medallist, Abhinav Bindra has started venture capital fund to back the startup sector of the country. The shooter has initially invested around US $2 million to setup incubation fund called ‘Shooting Star LLP’. He has joined hands with consulting firm Franchise India who shares the equal contribution in raising the fund.
Speaking about the investment, Bindra 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.