This guy quit IIT for commerce degree, and earns 250 crores in 150 days

Rahul Rai’s life story is fascinating. Admission to the Indian Institute of Technology is seen as a guarantee of success in the workplace in India. Rai though had a different opinion. Rai, an outstanding student received a perfect score on the IIT JEE and was admitted to IIT Bombay but dropped out in 2015 before earning his much-desired engineering degree.

This is due to the fact that he now knew exactly what he wanted to accomplish for the remainder of his life. He was interested in economics. He decided to enroll at the Wharton School in the United States to pursue a BSC in economics.

He received his diploma in 2019. and he spent a year in the United States working at Morgan Stanley. after that, he returned to India in 2020 and started a business venture there with his two friends. His company handled a crypto fund.

He created a cryptocurrency hedge fund with his two co-founders. The main concept was to apply what he had learned on Wall Street and at Morgan Stanley into the world of crypto. His hedge firm, Gamma Point Capital, used to invest in blockchain technology and digital assets.

Their investment approach was to profit from bullish or bearish market conditions. The plan was successful, and the fund started increasing its money.

Under five months, they got a counteroffer they couldn’t refuse. Gamma Point Capital was purchased by Block Tower Capital for Rs 286 crore. Although it was a difficult choice, they realized it would take them years to accumulate this kind of wealth. In just 150 days, he generated this much revenue for all of his co-founders.

Rai began co-leading Market Neutral at Block Tower Capital after becoming a millionaire. He is in charge of a 150 million USD cryptocurrency fund. In 2022, it had the top cryptocurrency hedge fund performance.

Despite the fact that 2022 was a difficult year for crypto funds, he was able to save the investors’ money since he shied away from danger.

Sweta Dagar is an avid reader and writer. She hails from Bulandshahr (U.P) where she completed her formap education. She loves exploring varieties of topics that shape the public opinion at large. If you have any queries, feel free to contact her at [email protected].