Latest news with #Varsity
Economic Times
5 days ago
- Business
- Economic Times
Capitalmind secures Rainmatter investment post successful mutual fund launch
Synopsis Zerodha's Rainmatter has invested in Capitalmind Financial Services after its mutual fund launch. Capitalmind Flexi Cap Fund successfully raised Rs 45 crore in its NFO, with a significant portion coming through direct plans via Zerodha's Coin platform. This investment formalizes a long-standing relationship between Zerodha's Nithin Kamath and Capitalmind's Deepak Shenoy, aiming to expand accessible investment solutions. Agencies Rainmatter, the fintech-investment initiative of Zerodha Broking Limited, has made a Series-A investment in Capitalmind Financial Services Private Limited (CFSPL or Capitalmind ), a SEBI-registered portfolio manager known for its quantitative investment strategies. This is Capitalmind's first institutional funding round and follows its recent launch of a mutual fund business, according to a press release. Also Read | MF Tracker: HDFC Flexi Cap Fund turns Rs 10,000 SIP to nearly Rs 21.50 crore in 31 years The investment comes as Capitalmind Mutual Fund's first scheme, the Capitalmind Flexi Cap Fund, reopens for subscriptions on August 6. The fund's recent New Fund Offer (NFO) successfully raised Rs 45 crore, with a remarkable 75% of assets coming through direct plans, signaling strong investor trust. Notably, nearly half of these direct inflows were facilitated through Zerodha's Coin platform, highlighting the powerful synergy between the two remaining 25% of NFO assets came via regular plans, indicating healthy early adoption from the distribution community, which has responded positively to Capitalmind Mutual Fund's equitable, flat-rate brokerage structure. This marks a notable success for Capitalmind's new channel-friendly approach, a significant expansion from its PMS business where distributors account for less than 3% of clients, the release said. This move formalizes a 15-year relationship between Zerodha's founder Nithin Kamath and Capitalmind's founder Deepak Shenoy, the release was an early advisor to Zerodha, lending his credibility to the nascent platform in 2010. Both companies share a deep-rooted ethos of investor education, with Zerodha's educational ecosystem - spanning the Varsity learning platform, the TradingQnA community forum, and the Zero1 YouTube network - and Capitalmind's long-standing blog, podcast and research services being foundational to their respective communities."We want to back innovative companies that share our mission of helping Indians do better with their money. My conversations with Deepak about finance and technology started back in 2009, and I've always been impressed by Capitalmind's data-driven, transparent approach. This is a financial investment to support them as they build out their asset management company. In line with SEBI regulations, our stake is capped at 10%, and we will not have a board seat, ensuring their independence,' Nithin Kamath, Founder & CEO of Zerodha and Rainmatter."Nithin's work in sparking my interest in quantitative trading years ago was a pivotal moment for me. Having Rainmatter invest in our vision is a powerful validation of our journey from a financial blog to a full-stack asset management firm. This capital allows us to accelerate our mission of filling a crucial market gap. The professional fee-only advisory ecosystem hasn't scaled as hoped, leaving investors to navigate a complex landscape. We aim to bridge that gap through accessible, solution-oriented products, much like the target-date funds discussed in SEBI's recent consultation paper," said Deepak Shenoy, MD & CEO of Capitalmind Asset Management. Looking ahead, Capitalmind is positioning its two core businesses for distinct growth trajectories. The new mutual fund will focus on creating innovative, scalable asset management products for a broad retail audience. Simultaneously, the PMS division will enhance its focus on providing holistic asset allocation for HNI and UHNW clients, primarily using baskets of mutual funds to offer consolidated guidance with the tax efficiency of the MF structure. This PMS strategy already manages over Rs 450 crore in such baskets. Also Read | RBI MPC: What strategy should debt mutual fund investors follow? While Capitalmind currently holds about 0.5% of the PMS industry's discretionary AUM (equity and mutual funds), the firm sees a much larger opportunity in the retail mutual fund space. With the Indian mutual fund industry's AUM projected to grow at a 15% CAGR to reach Rs 200 lakh crore over the next seven years, the potential for scale is immense. Shenoy is confident that Capitalmind Mutual Fund can capture a significantly larger market share in this burgeoning retail segment than it has in the PMS market. Achieving even a 0.5% share of this future industry AUM would translate to a landmark Rs 1 lakh crore in assets under management, underscoring the firm's long-term ambition.
Eater
29-07-2025
- Business
- Eater
One of Seattle's Oldest Diners Is Closing After 62 Years
The Ravenna Varsity — typically just called the Varsity — which has been holding down the corner of 65th Street and 23rd Avenue Northeast for an astonishing 62 years, will close permanently on Sunday, August 3, Vanishing Seattle reports. The diner was a North Seattle landmark and outlived its original building, which was torn down in 2002; the Varsity reopened in the mixed-use building that replaced it in 2004. According to Vanishing Seattle, Mariners manager Lou Pinella had a meal at the Varsity after arriving in town for the job and asked waitress Sandy Pelkey for directions to the Kingdome. Pelkey has been working there since 1979 and bought the Varsity from original owner Ozzie Boyle; she now runs the restaurant with her son Bryan. Pelkey told Vanishing Seattle that the Varsity is closing after she couldn't reach an agreement on a new lease with the landlord. Rising prices and pandemic-related losses also contributed to the decision (common factors in many recent restaurant closures). 'While it breaks our hearts to see the Varsity shut its doors, what we will miss the most is the customers that have become like members of our family,' the Pelkeys told Vanishing Seattle. 'The doors may shut, but the connections and community we built will last a lifetime.' Here are more notable restaurant and bar closure announcements from around Seattle. If you know of a closure we missed, please email us at seattle@ CAPITOL HILL — Gold Bar, on Pike and 12th Avenue, has closed permanently, reports Capitol Hill Seattle Blog. The owners told CHS that they lost the lease due to a 'real estate deal,' but the building has not been sold recently, notes CHS. Afterlife, a nightclub that was connected to the bar, has also closed. FREMONT — Acclaimed restaurant the Whale Wins will be closing on October 28, the Sea Creatures restaurant group announced this month. Star chef Renee Erickson still has several restaurants in her portfolio (with plans to open more in Pioneer Square), but the Whale was the one that earned her a James Beard Award in 2016. Still, it had been losing money for some time, Sea Creatures co-owner Jeremy Price told Eater Seattle, and ownership decided not to renew the lease. BAINBRIDGE ISLAND — Longtime Seattle-area chef Greg Atkinson, a pioneer in the 'eat local' movement, has retired, closing his restaurant, Marche. The Seattle Times reports that it will be replaced by a new seafood restaurant called Sweetwater Tavern, which will open later this year. RAVENNA — A bizarre early July incident in which a car drove through the storefront of the Mioposto on 55th Street and 35th Avenue Northeast led to the pizzeria being closed temporarily for repairs. Several diners were injured by the car crash, though thankfully none critically. MADISON PARK — Three years after opening, the nonalcoholic-friendly bar, restaurant, and hangout spot Kamp Social House has closed permanently. 'This decision comes after much reflection and is rooted in the need to take a personal pause,' wrote owners Marceil Van Camp and Katy Knauff in an Instagram announcement. KIRKLAND — Arleana's, a Carribean cocktails and dinner spot from the owners of Island Soul, has closed after just two years, reports the Seattle Times. 'This wasn't an easy decision, but please know how grateful we are for every visit, every shared meal, and every smile,' the owners wrote on Instagram. The family's Columbia City restaurant remains open. BELLTOWN — Also via the Times, Korean Bamboo, home of some killer silken tofu, has closed permanently, 'with a notice from the owner citing safety issues in the neighborhood and more, while sincerely thanking fans for all the love.' CAPITOL HILL — Finally, Capitol Hill Seattle Blog reports that Finch and Pine has closed permanently. Owner Sara Moran (of famed Seattle restaurant Sitka and Spruce) wrote on Instagram that 'the main reason is because I'm ready for a new chapter.'
Perth Now
29-07-2025
- Entertainment
- Perth Now
SNEAK PEEK: Popular sports bar unveils venue transformation
Foodies, sports fans or simply those with a competitive streak will be able to get their game on at Varsity Waterford after the finishing touches are made on the venue's epic expansion. The southern suburbs location has doubled in size to accommodate a new 'full-scale entertainment zone' featuring more than 50 arcade games. Sought after collectibles including the viral plush toy Labubu, skateboard decks and Star Wars helmets will be up for grabs in exchange for points earnt on the extensive range of games. Varsity's Jimmy Baxter said the major upgrade was designed to create an entertainment space to suit all occasions. 'We're always looking for new ways to bring people together,' he said. 'Our Waterford venue has such a loyal local following, and this expansion is about giving them more of what they love — great food, epic entertainment, and a space that's just as perfect for a weeknight wind-down as it is for a big weekend out.' Varsity Waterford's new gaming area. Credit: Supplied The upgraded space will be christened with a launch party including half-price games, a live DJ and roaming photo booth from 5pm on Thursday August 14. A selection of food and drinks specials will be on offer at the grand opening and across the weekend until Sunday August 17. The upgrades add to the venue's existing entertainment space that boasts an outdoor deck and bar which is available to book for private functions. Waterford's new arcade has marked Varsity's seventh location to have a gaming space, with Whitfords to soon join the club.
Time of India
28-07-2025
- Business
- Time of India
Zerodha's next growth challenge: Why are Tier 2 and 3 investors swiping left on Zerodha? asks Nithin Kamath
No ads, no incentives, by design Live Events Nithin Kamath's open question Feedback floods in (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Zerodha's Nithin Kamath has never shied away from straight talk. This week, he laid out a rare self-assessment of his company's recent growth, or the lack of it, in public. In a detailed post on X (formerly Twitter), Kamath shared that while Zerodha continues to manage increasing volumes of investor wealth, the number of new accounts being opened on the platform has dropped.'Our AUM share is growing (people with more money trust us), but our demat share is shrinking (fewer new accounts),' Kamath acknowledged that the decline is likely linked to younger investors and users from tier 2 and tier 3 cities choosing other platforms. 'The people with money are sticking with us, but many others aren't opening accounts with us. Most likely, the newer and younger, and people from tier 2 and 3 towns, are probably investing elsewhere,' he has long positioned itself apart from the crowd. It does not run advertisements. It does not offer cashbacks or signup offers. That's not by accident. Kamath was clear: 'We won't advertise. We won't offer account-opening incentives.'The company has grown into one of the largest brokerages in India largely through word of mouth and content. But Kamath admitted that approach might not be enough anymore. Or at least, not in its current form.'So, how do you grow when you can't play the traditional acquisition game?' he asked. 'The obvious answer may be 'content,' and we have significantly improved on it, but it's hard to measure the impact.'Rather than offering a quick fix, Kamath used his post to start a conversation. He posed a direct question to founders and marketers: 'Can brands still rely on the same tactics and strategies that worked in the past, or do changing times demand new strategies?'He also asked, 'If you were in our shoes, what would you do?'That one post triggered a wave of responses, both critical and user pointed out what they saw as a gap in Zerodha's outreach. 'I've not done massive research into this but most of your content with Zerodha and its initiatives that I see are English. They are premium. Maybe it's time to invest in creators/channels that people want to hear in their language.'Another raised a concern about discoverability: 'Advertising is awareness as well. If it's the newer/younger gen from tier 2/3 that's not coming to Z I think it's because their mindspace is already taken up by someone else. Maybe they don't even know you exist and why are you better?'A different voice praised the long-term approach: 'You've scaled without content (except Varsity) and still done well because you stayed true to your principles. I think continuous product improvement and the initiatives (maybe a bit more in Hindi also) can help. And it's okay to not have all the customers.'Some praised Kamath directly for his transparency. One comment read: 'Wow. This is the reason why a lot of people admire you. Sticking to the core values while managing the business is very tough in this competitive world.'Zerodha has always taken a different route. Unlike many of its rivals in the broking space, it has avoided burn-driven growth, stayed profitable, and invested early in financial education through platforms like the broking business is changing. Younger users today are less likely to follow traditional finance brands, and more likely to be swayed by influencers, regional creators, and aggressive digital post suggests that he knows this shift is happening. The question now is whether sticking to Zerodha's core principles can carry it through the next wave of growth, or if the company will need to evolve its playbook while still keeping its identity way, the conversation he started is one that many in India's startup and fintech circles are watching closely.
Otago Daily Times
10-07-2025
- Sport
- Otago Daily Times
Will there be more surprises?
And then there were four! As can happen in top-six playoffs the top three seeds, Taieri, Dunedin and Varsity, all got beaten to see Dunedin and Varsity bundled out of the semis. Taieri stay in the race by virtue of the fact they were the top qualifiers going into the weekend. Taieri, with their starting backline out in the quarterfinal, were always going to be a long shot to win at the weekend and so it proved. Their pack ground out a lead over Kaikorai but the lads from the high veldt scored two late tries to extinguish the finals aspirations of Dunedin and Varsity. Dunedin only have themselves to blame after leading the comp for the majority of the season, only to capitulate in their last two games. They gave up top spot with a sub-par display against the Eels a couple of weeks ago, then got destroyed in the second half by a heavyweight Southern pack after leading going into the break. They pulled their two biggest players off in the second half, Wingham and Palmer, and certainly paid a very heavy price. Varsity looked the favorites against Harbour to go through but the Hawks held their discipline, went out to a lead and deservedly held on to unbelievably end up as the top qualifiers. This means they get a home semi at the Cockabilly Cauldron and, as we know, it is hard to win down there. Southern host Kaik at Bog Bathgate and Kaik won't be looking forward to that. Tell me it's not so Otago have not named a squad for the season as yet and I hear it's because, once again, they are bringing players in from outside the province to fill perceived holes. The rumour is three players, one from Christchurch (possible midfielder) and two from Australia, one being a lock. It hasn't worked over the past few years — just look at our track record. How can our Otago board let this happen? Who is paying for this? I know I sound like a broken record but when are we going to wake up? All I hear is "pathways" and all I see are "no exits". The only upside is at least we are not Southland. They've named 31 players and how many of those are genuinely out of club rugby? Not many that I can see. Down on the farm Up North it's finals time with Excelsior, the defending champions, hosting Valley. This is the third year in a row (boring!) these teams have met with honours being even so far. There will be nothing in this final but I'm tipping Excelsior may make it two straight. In the deep South, Pirates Old Boys, the top qualifiers, take on Woodlands for the time-honoured Galbraith Shield and again it's hard to pick. POB have been the best team all year so I'll stick with them to win it all at Rugby Park tomorrow. In the South it's semifinals time, with top qualifier Clutha hosting the prison guards from Toko and the West Taieri Pigs at home to the Crescent Coalminers. In Central, defending champions Upper Clutha are hosting the Maniototo Maggots on the lake front. The Wanaka boys, who also hold the "Horse", have been the best team all year, and should just be too good for the Maggots. Wakatip host Alex in the other semi in Queenstown, with both teams coming off losses. Wakatip lost to Upper Clutha and Alex are on "oxygen support" after going down to the Matak mudfish, my new favourite team. The big news out of that game was big lock Chris Nolan unbelievably played his 300th for Matak. It would have been monumental in Omakau last Saturday night/Sunday morning in the burgh. Good on ya mate — stunning achievement. The victors' ale would have been sweet. Oh, by the way, Wakatip win — just. Clarification There has been a bit of confusion over what happened to the Arrow Bulls v Maggots game at the weekend. Stop ringing Maggots coach Charlie Hore because as per usual I have the answer. Arrowtown defaulted Tuesday week ago as they couldn't field a team. The Maggots offered to play Friday night if that helped but Arrow were still struggling for numbers. Stick with me I'll take you to the top!! Test-match rugby We have certainly been spoilt with Super Rugby this year as we have sped the game up. However, we have been living in a "false down" as we are now back under international rules. The game at the Greenhouse was at times farcical with the three disallowed tries and the time it took to come up with a decision. What's the point of speeding up the game when it took us nearly 10 minutes to make those decisions, especially when one of them was clearly wrong!! We are seriously in danger of spectators saying enough is enough and starting voting with their feet and wallets. Don't get me started on the fact that we have a TMO for foul play and another for general play — sheer bloody lunacy! This weekend You'll be pleased to know yours truly picked none from three in town last week — some expert. Soundly beaten for the second week in a row, this time by "Bilbo" from Speight's. Anyway, I'm back on the horse and up against the mein host of both the Mornington and Cableways, Arvi Singh, who, I'm assured, is not the biggest follower of rugby so I'll still probably lose! Harbour are at home to Taieri at Port so the conditions will not be good (they hardly ever are) and underfoot it'll be great for the geese. Taieri have Cam Miller back but there is no Sam Fischli or Matt Whaanga because Southland have not released them. Southland are fast losing all credibility in this town with their attitude to club rugby. It is nearly time for us to get really grumpy. So Harbour (12-) go into this game as favourites, especially with Hastie back at nine. The Taieri pack are as good as any but the Harbour pack are big and with Hastie and Miln running the cutter they may get it done, but the Eels will be right in it. Southern are at home to Kaik and on that track, with their heavyweight pack, go in as big favourites. Throw in Mackenzie Palmer directing traffic and the Magpies (12-) win. On the farm in Central last week I drew with Lyn Jaffray and I win all draws. On to the southern semis this week and up against Tom Hollows from Hollow Timber and a local rugby legend. I'm up against it but I go well in the country so Tom goes down. Clutha (13+) have been the best team all year so they will dispatch the prison guards from Toko comfortably. West Taieri (12-) are at home at the Market Garden against Crescent and in their jubilee year should get it done.
