QiCAP.Ai, a quantitative investment and trading platform has completed its maiden funding round.
What Happened: The fund raised $24 million (₹201 crore) at a post-money valuation of $210 million (₹1,763 crore), it said in a statement. The investment round was led by renowned ace investor Ashish Kacholia and Sid Mehta of Bay Capital.
"Recently invested in QiCap as they have a track record of delivering solid, risk adjusted returns to HNI customers," Kacholia commented about his investment in the fund, in a post of microblogging platform X.
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The funding round saw participation from several prominent figures in the financial services sector, including Yash Kela of Founders Collective Fund, Alok Oberoi, chairman of Everstone Group and former partner and head of international private banking at Goldman Sachs and Mihir Worah, former Deputy chief investment officer at PIMCO Asset Management, US.
Additionally, notable investors and family offices were also involved. These included Ananta Capital- associated with the Taparia family of Famy Care, the Mittal family of Crimson Interactive, Sandeep Runwal of Runwal Developers, Rizwan Koita and Jagdish Moorjani of Citius Tech and the Jain family of Conscient Group, among others.
Existing shareholders, including Sharad Sanghi, former founder of NTT Netmagic, Karan Maheshwari and an existing investor group, comprising Sasha Mirchandani of Kae Capital and Fractal Analytics, also participated in the funding round.
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