As reported earlier, Minerva Punjab had reached out to top officials of the All India Football Federation (AIFF) seeking a green light from the governing body ahead of a potential merger of the club.
As it stands, the deal will see RoundGlass invest in Minerva's youth teams and are unlikely to be involved with the senior team.
RoundGlass is a venture capital firm that seeks to invest in the digital healthcare and wellness sectors. It was founded in 2014 by Gurpreet 'Sunny' Singh. He is also the CEO of Edifecs, a company providing integrated solutions for the healthcare ecosystem. He has also established SabTera, which works with under-resourced communities to provide schooling for children and sustainable employment for women.
They are currently working in 90 villages in Punjab and have implemented several initiatives including building football academies, installing solar panels, and establishing proper waste management mechanisms.
In their football academies, boys and girls between the age group of 6 to 14 hone their skills across Chandigarh, Mohali and Panchkula.
When Goal when reached out to Minerva owner Ranjit Bajaj, he declined to comment on the development.