Ace shooter and India’s first individual Olympic gold medallist Abhinav Bindra has launched a venture fund to invest in startups. Called Shooting Star LLP, the fund would have an initial investment of $2 million (Rs 130 crore), in an equal partnership with consulting firm Franchise India.
According to Gaurav Marya, president of Franchise India, the fund will invest in areas like emerging sports academies, sports injury, rehab, tech, equipment and training, health apps, child development, holistic wellness, organic foods and dairy.
Abhinav has called this his first widespread and extensive business venture. He said, “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.”
Abhinav, 34, won the gold medal in the 2008 Beijing Olympic Games in the 10 m Air Rifle event. He was awarded the Padma Bhushan in 2009. In 2014, he joined the GoSports Foundation as a member of their board of advisors. In collaboration with the GoSports Foundation, he will provide support to India’s up and coming talented shooters through the Abhinav Bindra Shooting Development Programme.
With this venture, Abhinav has become the second major sports personality from India to have set up his own firm to support startups. Last year, cricketer Yuvraj Singh started his venture capital firm named YouWeCan Ventures Technology LLP to support online startups and encourage entrepreneurship.