![Micromax announces Orbis Capital to expand its investment strategy Micromax announces Orbis Capital to expand its investment strategy](https://varindia.com/public/storage/news/uploads/2016/58984beed328e.jpg)
Micromax Informatics is taking a step forward to expand its investment strategy and has announced an independent fund “Orbis Capital”. Backed by Micromax as an investor and strategic partner, the fund is targeting a capital raise of $75 million and will focus on investing in consumer internet companies both locally and internationally. This announcement comes in post Micromax made 10 notable start-up investments over the past two years, including ixigo, Gaana, HealthifyMe and Scandid, to name a few.
Rahul Sharma, Co-Founder, Micromax, said, “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. This fund will look at investing in consumer Internet companies across the world that have local relevance. Micromax has created immense value for our existing portfolio companies and this allows us to further leverage our platform for larger opportunities.”
Kumar Shah, who spearheaded Micromax’s global investment program, will lead Orbis Capital along with his existing team. Kumar Shah commented, “Micromax is the first port of call for companies looking to expand in India and the platform has created tremendous value for partners. Our portfolio companies have acquired millions of users through the Micromax platform and attracted follow on funding from top-tier investors. We have proved that this investment strategy can identify and partner with the best companies around the world, and we have an identifiable value-add through Micromax that appeals to world-class entrepreneurs and their investors.”
Micromax started its strategic investment program in 2014 and partnered with various companies such as ixigo, Gaana, MiMedia, Scandid, Zapr and HealthifyMe, to name a few.
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 from Truecaller and Parry Blacher (former co-founder, Covestor).
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