Question : Which venture capital fund would be launched in collaboration with Rhiti and Kanodia group ?
a. Deep Pockets Capital Venture
b. Big Wallet Capital Venture
c. Big Basket Capital Venture
d. None of the above
Ans. a.
Related facts —
- Sports-focused Rhiti Group has recently(July 2021) collaborated with cement maker Kanodia Group to launch Deep Pockets Capital Venture LLP.
- Deep Pockets is a venture capital fund, to incubate budding entrepreneurs as well as fund and scale tech startups.
Background —
- It is notable that India is on the cusp of a revolution in technology, including artificial intelligence (AI) and blockchain, which are set to revolutionise agriculture, finance and entertainment in coming years.
- Rhiti Group aim to help entrepreneurs by providing them capital and resources they need, and are looking at funding businesses with anywhere between Rs 25 lakh to Rs 2 crore.
- Group’s objective is to identify highly potential businesses in the early stages and work towards growing together with a long-term vision.
Rhiti Group —
- Rhiti Group, which represents Indian cricketers Mahendra Singh Dhoni, Bhuvneshwar Kumar and Kedar Jadhav, also has interests in sportswear retail and entertainment.