The Indian Institutes of Technology (IITs) are among the most prestigious institutions in India, known globally for their excellence in engineering, technology, and research. Studying at an IIT is a d
The Indian Institutes of Technology (IITs) are among the most prestigious institutions in India, known globally for their excellence in engineering, technology, and research. Studying at an IIT is a dream for many students due to the high-quality education, excellent infrastructure, opportunities for innovation, and the platform it provides for career growth. However, several people dropped out of IITs and later became successful. And Rahul Rai’s story is a remarkable example of how unconventional paths can lead to success.
In this story, we will learn how Rahul decided to pivot from this path, leaving IIT Bombay in 2015 to pursue a different dream in economics and finance.
Rahul Rai, an IIT Bombay dropout from 2015, left his engineering degree midway to pursue a Bachelor of Science in Economics at The Wharton School, University of Pennsylvania, marking a bold shift from engineering to economics in his academic journey.
“I started my career on the Foreign Exchange (FX) Macro Hedge Funds team at Morgan Stanley and graduated with a B.S in Economics from the Wharton School at the University of Pennsylvania, ” reads Forbes.
Rai, who graduated in 2019, began his career as an analyst at Morgan Stanley in the US. He continued to work there for over a year. However, in 2020 he quit his job and returned to India. After moving to India, he pursued his interest in decentralized finance (DeFi) and, after extensive research, co-founded Gamma Point Capital in January 2021 alongside Eash Aggarwal and Sanat Rao. This crypto hedge fund focuses on investing in digital assets and blockchain technology, reflecting his passion for innovation in the financial sector.
Rahul Rai’s venture, Gamma Point Capital, soon achieved success, and within five months of its founding, it was acquired by BlockTower Capital for Rs 286 crore (USD 35 million) in May 2021. Though the decision to sell was difficult, it was a strategic move that brought immense wealth to the co-founders in a short span. Post-acquisition, Rai became the Co-Head of Market-Neutral at BlockTower Capital, where he now oversees investments across crypto assets and blockchain technology as part of a multi-strategy crypto hedge fund. He was even listed under Forbes India 30 Under 30 2023 list.
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