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Micromax Sets Up $75 Million Fund to Invest in Consumer Internet Companies

The fund will focus on investing in consumer Internet companies both locally and internationally.

News18.com

Updated:February 6, 2017, 3:26 PM IST
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Micromax Sets Up $75 Million Fund to Invest in Consumer Internet Companies
The fund will focus on investing in consumer Internet companies both locally and internationally. Representative Image. (Image: Reuters)

Domestic handest maker Micromax Informatics Ltd has announced an Independent fund Orbis Capital worth $75 Million. Read more:

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The fund, Orbis Capital, is targeting a capital raise of $75 million and will focus on investing in consumer internet companies both locally and internationally. Micromax made has made investments in at least 10 start-ups including ixigo, Gaana, HealthifyMe, and Scandid.

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Backed by Micromax as an investor and strategic partner, the fund will focus on investing in consumer Internet companies both locally and internationally.

“We have tasted a great amount of success with all our investments that we strategically did over the last two years and this progression to announce an independent fund was due to the large opportunities that the market presents.

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This fund will look at investing in consumer Internet companies across the world that have local relevance: Micromax co-founder Rahul Sharma said in a statement.

Orbis Capital is in the process of building an advisory board alongside the investment team and has already brought on board leading entrepreneurs including Nami Zarringhalam (Truecaller co-founder) and Parry Blacher (former co-founder, Covestor). Kumar Shah, who spearheaded Micromax global investment programme will lead Orbis Capital along with his existing team.

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