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 organization’s portfolio while recognizing the long and trusted partnerships that the Omidyar Network India team has built.
This decision was heavily informed by the significant change in context and the growth in the economic landscape that the India-based team has experienced since first making investments there in 2010. Today, there is more Indian led philanthropic and venture capital than ever before, the country has a vibrant start-up sector, and several funds now have a middle and lower-middle income focus as part of their investment strategy. From its outset, the Omidyar Network India team identified these system shifts as critical to impact and worked diligently to help catalyze this change.
The organization’s unique focus on bringing the country’s Next Half Billion into the formal economy through a dual check book model combining for-profit funding and non-profit investing helped to support the start-up ecosystem that exists today.
We are deeply proud of Omidyar Network India’s work and the success they have achieved.
*In 2010 Omidyar Network created an India-based team that in 2018 became Omidyar Network India, an independent entity. These changes are unrelated to Omidyar Network and their ongoing work.