He is thought to be planning to put proceeds from the share sale into the fund. Mr Bhargava, a former British Gas analyst in India, is reported to have invested in a start-up hedge fund based in Gibraltar last summer called Sirius.
A similar pledge had been made previously but was not enough to halt the four cashing in 200m shares and sharing a £232m windfall. Last June PartyGaming's founding shareholders - Mr Bhargava, Anurag Dikshit, Ruth Parasol and her husband Russ DeLeon - entered into a lock-up agreement under which they pledged not to sell their share for the remainder of the year without consent from its broker. PartyGaming shares closed down 1.5p, or 4.4%, at 32.25p. Some unconfirmed reports suggested the placing had been taken up rapidly, with strong hedge fund interest.
