Business briefs 2

WealthDesk aims to utilise these funds to further solidify its objective of platformization of Investment Management Industry in India consolidating Broking, Advisory, MF Platforms and FinTech AMCs, a statement said. Sapient Wealth joins hands with Venture Catalysts to promote HNIs to Invest in Startups Venture Catalysts on Monday said it has partnered with Sapient Wealth as part of its vision to create, build, and nurture 1,000 start-up investments by 2025.The strategic association marks the first corporate venture partnership agreement signed by Venture Catalysts, according to a statement.

PTI | New Delhi | Updated: 18-01-2021 21:58 IST | Created: 18-01-2021 21:58 IST
Business briefs 2

Online skill-based gaming platform Dangal Games on Monday said it has raised USD 1 million in funding.

The company did not disclose the name of the investor of the series-A round. Dangal Games plans to add 'Fantasy Games' to their bandwagon before the arrival of IPL 2021, and will launch its casual gaming vertical in the next quarter, according to a statement.

Varun Mahna, founder and CEO of Dangal Games, said, ''The fund will be used to diversify the product portfolio and build the tech capabilities of the business. The online gaming industry in India is surging like never before. After the pandemic, our whole platform endured an inclining power shot in acquisition and user-time spent.'' He added that the funding will also be used to grow the gaming ecosystem in the country, and enable more gaming tech start-ups with investments.

* * *WealthDesk raises funding * WealthDesk, a B2B2C investment technology platform, on Monday said it has raised an undisclosed amount of funding from a clutch of investors.

The company did not disclose details of the funding but said the investors include senior leaders from global banks, market participants and other top technology business corporates.

Founded in 2016, WealthDesk is a business-to-business-to-consumer (B2B2C) platform that enables portfolio-based investing on top of equities and ETFs consolidating advisory, broking, asset and wealth management ecosystem. Since its inception, WealthDesk has been bootstrapped and has witnessed a capital infusion of more than USD 1 million in funding from the founders.

''Now, with the first external funding round, WealthDesk is looking to expand further and capture retail investors at scale across this B2B2C ecosystem. WealthDesk aims to utilise these funds to further solidify its objective of platformization of Investment Management Industry in India consolidating Broking, Advisory, MF Platforms and FinTech AMCs,'' a statement said.

* * *Sapient Wealth joins hands with Venture Catalysts to promote HNIs to Invest in Startups * Venture Catalysts on Monday said it has partnered with Sapient Wealth as part of its vision to create, build, and nurture 1,000 start-up investments by 2025.

The strategic association marks the first corporate venture partnership agreement signed by Venture Catalysts, according to a statement. This latest move is a leap forward towards its larger mission to create 10,000 angel investors across 100 start-up cities in the country and make start-up investments as a viable and accessible asset class for investors, it added. Sapient Wealth shall now be able to provide opportunities in this asset class of start-up investments to its clients through Venture Catalysts, the statement said.

Sapient Wealth Director Paresh Kariya said, ''As an emerging asset class, start-up investing is finding increased acceptance and allocation in the investment portfolios of HNIs and family offices. This asset class is increasingly being recognised for higher returns by fostering innovative businesses with unique and disruptive ideas.'' He added that the company has been investing in startups since about 10 years, and has experienced multiple exits between 3.5x and 19x.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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