'We have tasted a great amount of success with all our investments that we strategically did over the last 2 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 its existing portfolio companies and this allows us to further leverage our platform for larger opportunities.'
Micromax Informatics Ltd. 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 USD 75 million and will focus on investing in consumer Internet companies, both local and international. This announcement comes in post Micromax made 10 notable start-up investments over the past 2 years – including ixigo, Gaana, HealthifyMe, and Scandid, to name a few.