Diversified financial services firm and investment banker JM Financial is exploring the possibility of setting up a start-up fund in the next few months.
According to sources, JM Financial is at present looking at possibilities on how to go ahead with its start-up foray for which it is conducting in-house accelerator programmes for the start-ups. JM Financial declined to comment for this story. While the size of the fund could not be ascertained, it is learnt from sources that the company will make its investments in the financial technology space.
“JM Financial might look into start-ups which can convert sophisticated algorithm investment calls meant for financial analysts into simple recommendations for mass consumers. Social investing, and banking apps are other ideas worth pursuing,” said an investor connected with the firm.
Meanwhile, Rashesh Shah-promoted Edelweiss has made its entry into the start-up segment by pumping in an undisclosed amount in health and fitness band maker GOQii. GOQii received its investment from Edelweiss’ venture capital arm.