ACT targets ₹500 crore fundraise to tackle societal problems beyond Covid-19 thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
ACT Grants eyes fund to solve societal issues
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ACT Grants, a non-profit alliance of more than 100 volunteers from start-ups and VCs, is raising ₹500 crore to back ideas that can help utilise the ‘start-up energy’ to solve issues related to healthcare, environment, education, and women empowerment. The alliance had come together last year to set up a ₹100-crore fund to combat the pandemic.
The alliance has funded 54 start-ups and over 100 projects to support existing medical infrastructure till now. “.individuals, companies, and the funds, all contributed.34 founders and corporate leaders and VCs as individuals and then 44 mainstream funds all contributed in the first round, or the first Rs 100 crore that we raised,” Shekhar Kirani, Partner, Accel & Investment Committee Member, ACT told
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NEW DELHI: Seasoned investors Ashish Kacholia, Ashish Dhawan and Mukul Agrawal have Birlasoft among their top portfolio bets.
The stock rallied six times, or 500 per cent, in last 11 months, but some selling pressure has set in over the past few days following the December quarter earnings.
The IT firm reported a 70 per cent YoY drop in deal wins in what proved to be an otherwise strong quarter for the IT industry, making investors wonder if the optimism on the counter is worth it. Post Q3 results, the stock has lost 7 per cent in three days. But most brokerages say ‘all is well’ with the stock.
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NEW DELHI: Most seasoned investors saw their portfolio values swell in the Covid year. Against a 15 per cent rise in the Sensex for the year, ace investor Ashish Kacholia’s portfolio value surged 75 per cent, Ashish Dhawan’s climbed 65 per cent, and Vijay Kedia’s 31 per cent.
Rakesh Jhunjhunwala, often referred to as the Big Bull of Dalal Street, saw his portfolio value rise 23 per cent for the year. Dolly Khanna’s portfolio value grew 12 per cent, but Anil Kumar Goel’s portfolio saw a 28 per cent dip, data compiled from publicly available Trendlyne database showed.
Kacholia emerged the biggest gainer among the aforementioned investors. His equity portfolio was valued at Rs 1,015 crore as of December 31, 2020, compared with Rs 583 crore on December 31, 2019, up 74 per cent.
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Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digi