Binny Bansal, the co-founder of Flipkart, is in advanced talks to purchase a stake in the Bengaluru franchise of the volleyball team competing in the Prime Volleyball League (PVL), according to media reports. Binny Bansal has stepped up the pace of his investments over the past few months.

About eight teams from Bengaluru, Mumbai, Ahmedabad, and other cities compete in the PVL, a competition similar to the Indian Premier League (IPL). One of the primary proprietors of Bengaluru Torpedoes, the local team, is Ankit Nagori, founder of cloud kitchen startup Curefoods and former senior executive at Flipkart.

When the agreement is finalised, Bansal will hold about 10 per cent of the squad, while Baseline Ventures, a sports management company, will own the remaining 50 per cent. Nagori now owns slightly under 50 per cent of the team.

Approximately 10 per cent of the company would be acquired by the entrepreneur-turned-investor, according to reports, for around Rs 10 crore, valuing the team at roughly Rs 100 crore. Mumbai Meteors, the Mumbai franchise of the Prime Volleyball League, was acquired by PhonePe founders Sameer Nigam and Rahul Chari last year.

A time when non-cricket events were also gaining popularity in India was when Bansal invested in the Bengaluru Torpedoes.