Omidyar Network profitably exited three portfolio companies in India last year, reinforcing the belief that social impact investments can yield high portfolio returns as well.
The fund started by eBay founder Pierre Omidyar, which has been investing in India for 10 years now, claims to have touched the lives of 550 million Indians, having deployed $300 million. It intends to invest $350 million over the next five years.
“Year-2019 was a marquee year for us,” Omidyar Network India managing director Roopa Kudva said. “The exits we did last year highlight our ability to not just create a social impact, but also make money.”
Two of Omidyar’s portfolio companies — skill assessment startup Aspiring Minds and news content platform Daily Hunt — returned seven to ten times gains over the principal amount invested. Aspiring Minds was acquired by US-based talent evaluation leader SHL last October, while Daily Hun ..
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