Recently it was revealed that the Delhi High Court had given Ashneer Grover and his wife Madhuri Jain (former head of controls at BharatPe) an extension to file their response in an ongoing case filed against them by a FinTech company. They accused Ashneer Grover and his wife of corporate misconduct following which Ashneer Grover made an announcement.
Ashneer Grover co-founder of BharatPe has unveiled his new startup ‘The Third Unicorn’ and has asked Venture Capital firms to stay out. He gave a little introduction of his new venture on LinkedIn. Ashneer Grover wrote “We at Third Unicorn have been quietly and peacefully building a market-shaking business. Bootstrapped. Without limelight. And we are doing things differently. Very differently.” He also added about the ongoing case and took a jibe at the Venture Capital firm community stating “he only believes in “desi” (homegrown) or “self-earned capital.”
The new VC firm will have a small team of about 50 members and would not have a regular board like other firms. It aims to generate a revenue of $1 billion. He requested investors to reach out to him directly and also said that he would gift a Mercedes to each employee after the firm completes 5 years.
The court battle and the accusations made against them led to Ashneer Grover leaving the FinTech startup.
