HomeBusinessOmidyar Network to exit Indian market after a decade of operations

Omidyar Network to exit Indian market after a decade of operations

Published on

spot_img
Omidyar Network India to Exit Impact Investment in India After a Decade |  Startup Story
  1. The decision stems from accomplishing its primary goal of catalyzing impact, as the impact investment sector attracted more local capital and philanthropy.
  2. Omidyar Network India will cease new investments and transition out of the Indian market entirely by the end of 2024.
  3. The organization will evaluate its existing portfolio over the next two months, considering established partnerships.
  4. The decision is influenced by changes in India’s economic landscape, witnessing increased local philanthropy, robust startup activity, and other funds focusing on middle and lower-middle-income sectors.
  5. Founded by eBay’s Pierre Omidyar, Omidyar Network India primarily invested in Indian startups, including Tata 1mg, Bounce, Centa, CloudSek, and more.
  6. The firm recently led a $6 million investment round in Digivriddhi Technologies, a fintech startup catering to the dairy industry.
  7. Omidyar Network India’s cumulative assets in India amount to about $673 million.
  8. The Omidyar group faced scrutiny by the Government of India over alleged unauthorized foreign funding, leading to restrictions on funding for Omidyar Network International and other NGOs in 2021.

Latest articles

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...

AI Model Backed by Mukesh Ambani to Launch in March

A consortium backed by Mukesh Ambani’s Reliance Industries Ltd. and India’s top engineering schools...

More like this

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...