Welcome Guest

Businessex.Com
Home News Mumbai based SAMCO Ventures raises $3 million in Series-A fund

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

Tags: SAMCO Ventures, SAMCO Securities, Indian Trading League, Series A investors

May 08, 2015 | COMMENTS ( 0 )

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.”

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....