Flipkart has established a corporate venture capital fund with a reported $80m to $100m in capital that will be overseen by CFO Emily McNeal.
India-based online marketplace operator Flipkart launched a corporate venture capital fund yesterday to invest in local early-stage startups operating in sectors such as e-commerce and financial technology.
The size of the fund was not officially confirmed, though people familiar with the matter told Bloomberg Quint it has been allocated between $80m and $100m. The same sources said Flipkart would invest between $2m and $3m in portfolio companies.
Founded in 2007, Flipkart runs an e-commerce platform aimed at the Indian market,…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
