Omidyar Network India will stop making new investments and completely transition out of the market by the end of 2024, the venture capital firm said
Omidyar Network India has backed businesses across areas, including education, emerging tech, and financial inclusion, and counts the likes of 1mg, Bounce, and Indifi in its portfolio
The impact investment firm’s India team is looking to raise money externally to start a new fund but the deliberations are at an early stage right now
Investment firm Omidyar Network, a backer of leading Indian startups such as 1mg, Bounce, Indifi, DealShare, HealthKart, and Pratilipi, is shutting down its India operations.“After several months of deliberation, it has been decided that Omidyar Network India will stop making new investments and will completely transition out of the market by the end of 2024. Over the next two months, the board and leadership team will assess how best to manage the organisation’s portfolio while recognising the long and trusted partnerships that the Omidyar Network India team has built,” the statement said.
Omidyar Network India confirmed the development in a statement, saying it will “completely transition out of the market by the end of 2024”.