[the_ad id="83613"]
Sabin

Exclusive: Sachin and Binny Bansal shut down Sabin Advisors

Sabin

After exiting Flipkart in 2018, Sachin Bansal and Binny Bansal had floated a joint venture Sabin Advisors. The firm was reportedly incorporated with the intention of making investments in startups along with other business activities. However, the venture hasn’t seen any activity and is under process of ‘striking off’ under the Companies Act. 

According to regulatory filings, the company initiated the process last year. After pulling the plug from Sabin Advisors, the duo has no longer been associated in any company together. While Sachin has put over two-third of his $1 billion fortune in Navi, Binny co-founded xto10x along with Saikiran Krishnamurthy and backed venture capital & private equity firm 021 Capital.

Sachin has invested over Rs 3,900 crore in Navi whereas Binny has made a handful of investments through both the entities. xto10x offers consulting and mentoring services to growth-stage companies. At present, it offers services to Rapido, Dunzo, Bounce among a few others.

Binny has put in capital in companies including Terraview, Acko, Ather Energy, Mobikon and Crio after resigning from Flipkart. Sachin, on the other hand, put $100 million equity capital in Ola along with debt infusion in KrazyBee, Vogo and Bounce.

Both Bansals have made a billion dollar each after selling Flipkart to Walmart. While Sachin exited completely from Flipkart, Binny still holds a 3.25% stake worth $732.3 million. Last month, Entrackr had exclusively decoded the current stakeholding patterns of Flipkart.

The decision to close Sabin Advisors appears to be a logical step for Sachin and Binny as a lot of things have changed for them in the past 18 months. 

Sachin has completely engrossed himself in building Navi and he recently claimed it to be one of the top three lending apps in India, and Binny has shifted base to Singapore and has been focusing on building xto10x and 021 Capital. 

Hence, it appears that there was no point in having an active joint entity when both partners have been busy building their respective businesses.

About Author

Send Suggestions or Tips

Sabin

Exclusive: Sachin and Binny Bansal shut down Sabin Advisors

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
Kindly make the payment to confirm your seat for Unicorn trip 3.0. For any other queries/concern: pls drop a email on: [email protected] or [email protected]
X