A startup investment and engagement program has been launched by Kotak Securities Limited (KSL) 1994, a stock broking company with the help of this the brokerage will be hatching and investing in innovative fintech and technology start-up companies. With an initial investment of ₹50 Crore a new and exclusive Corporate Development Department (CDD) has been introduced for this initiative.This will be helpful in the launch of accelerator programs, networking events, hackathons, pitching sessions, and demo day program for startups at the early stage in-house as well as with other leading groups. On the KSL website, there is a special section where interested start-ups can register and submit innovative ideas and products for evaluation and get updates on the same.
Jaideep Hansraj, MD & CEO of Kotak Securities said that in this first running world with expeditious technological advancements they need to go ahead of all others, providing newer products to their customers. In the new normal situation that’s the post-COVID scenario, the broking and distribution business has become more technology involved. They strongly believe that technology innovation will further drive the competitiveness of a broking firm; however, developing technology involves money and time. It is with this purpose that they had launched their new investment and engagement program where they will join hands with a minority stake in fintech companies that makes strategic sense to Kotak Securities.
Shripal Shah, president of – head of operations, finance, and technology of Kotak Securities said that While we get access to some exciting technology plays, startups get the advantage of product validation, mentorship, and institutional capital. KSL is a subsidiary of Kotak Mahindra Bank founded in and the stockbroking arm of the Kotak Mahindra Group. The company offers a range of financial products including equity, derivatives, currency derivatives, commodity derivatives, IPOs, mutual funds, and insurance. They are corporate members of the Bombay Stock Exchange(BSE) and the National Stock Exchange(NSE). They are also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). In December, KSL has launched a global investment platform for Indian and NRI clients which will help to invest in growth stories of US-listed large-scale technology and biotech companies.