Mumbai based SAMCO Ventures raises $3 million in Series-A fund

SAMCO Ventures, promoter and holding company of SAMCO Securities, a Mumbai based discount broking firm has launched the capital market league called the ‘Indian Trading League’ for traders and investors across India.

The venture, which was being sculpted over the last one year, has already witnessed investor attention with Kapil Dev, London based Bay Capital Founder Siddharth Mehta and other investing $3 million as Series A investors.

The Indian Trading League (ITL) was launched by Kapil Dev, former Indian cricketer, who also started his first innings as an investor in the venture at an event held in Mumbai.

“The League takes trading and investing to a whole new level of experience, which involves real money, real markets, real people and real returns. This annual championship is open to all, may it be investors, intraday traders, positional traders, commodity traders, system traders and women,” said the official press release. 

Winner would be one who generates the highest percentage net return or what is also called the Absolute Return on Net Funds (ARONF), a methodology opined by Deloitte as a fair method of determination of winners.

The first edition of the league will begin from the 19th of May, 2015 and will conclude on the 31st of March, 2016 with 4 formats in the first edition – The Indian Trading League, The Indian Investors League, The Indian Commodities League and the Indian Women  League.

Commenting on the occasion, Jimeet Modi, CEO, SAMCO Ventures, said, “The concept of ‘Indian Trading League’, Dimag Ki League, not only brings in element of discipline and preparation to making money, but also allows investors and traders to gauge their performance through comparison and benchmarking. This novel experience will be available to participants at absolutely no extra cost. ”

He further explained, “The biggest component of cost for a trader or investor in the market today is Brokerage. In the broking industry, the discount broking model is the only way forward and brings in much needed disruption by eliminating costs and passing on the entire benefit to the investors.”

Commenting on the investments, Vipul Modi Chairman, SAMCO said, “The investment in SAMCO only reiterates our confidence and the investor’s trust in the Indian Trading League and the unique proposition for Indian investors.”

Kapil Dev Former Indian cricketer said, “I have always taken all the decisions from my heart, but ye dimaag ki league intrigued me and I feel that disruption what one day match and IPL brought to cricket, Indian Trading League coupled with  SAMCO’s discount broking would bring  to investors and traders in Stock Market.  While I always wanted to be a stock market investor, I have come close to being one by investing in the company itself, which has come out with a brilliant concept for the stock and commodity markets.”