Omidyar Network to invest $200 m in Indian startups
Apr 02 2014
The firm has already invested $120m in various sectors
“Most of our investments have gone in for profit ventures, that could be around 70 per cent. But we do see whether an organisation may have a social impact.
The sweet spot for us is $1 to 3 million but there are instances where we have done more or less than this too,” said C V Madhukar, director, investments, Omidyar Network India Advisors.
Globally Omidyar has invested $600 million so far. The company was set up with a view to make philanthropic investment by ebay’s founder Pierre Omidyar and his wife Pam Omidyar. They adopt what they call “flexible capital approach” where in investments could be made in for-profit organisations as well as grants to non-profit ones.
In India, they broadly focus upon sectors like financial inclusion, governance, internet and mobile technology property rights and entrepreneurial ecosystem. Of the total 30 investments, ten are in the nonprofit segment.
The investments in India, where the stake pick up could range between 15-40 per cent include Quikr — an online classified organisation, Aspiring Minds — which looks to strengthen the labour system in the country, Treehouse — education services provider for self operated pre-schools, iMerit — which looks at training rural staff for entry-level information technology work.