Omidyar Network to double India investments by 2020: Roopa Kudva

The venture fund invests in both for-profit and not-for profit organisations across the world

US-based Omidyar Network, an early stage investor fund, looks to double its investment in Indian companies from the current $160 million to $350 million by 2020, said partner Roopa Kudva. The venture fund, co-founded by eBay founder Pierre Omidyar with his wife Pam Omidyar in 2004, invests in both for-profit and not-for profit organisations across the world.

"While investing, we look at companies that can bring about a large sector-level change," said Kudva, who joined the company early this year. Prior to joining Omidyar Network, she was the managing director and chief executive officer of rating agency CRISIL. Interestingly, Union minister of state for finance Jayant Sinha was her predecessor at Omidyar Network.

The social impact investor has funded about 60 different companies in India over the last five years. This year alone, the company has invested in about 35 companies. Its portfolio in India include for-profit companies like online classifieds portal Quikr, e-commerce portal for health and fitness Healthkart and news curation website Scroll.in, among others. Some of the not-for-profit organisations Omidyar Network has provided grants to in India include The Education Alliance, Janaagraha and Akshara Foundation. Till date, about 55 per cent of the fund's investments are in for-profit and 45 per cent are in not-for-profit organisations.

However, the organisation does not maintain a separate fund for different countries. Omidyar Network's primary markets are in US, India and Africa. India is its first market outside the US. The company's investments span across five major sectors, namely, education, financial inclusion, consumer internet and mobile, governance and citizenship.

Omidyar Network combines Limited-Liability Company (LLC) and foundation models in its functioning. LLC, as a model, gained much attention recently after Facebook co-founder and chief executive officer Mark Zuckerberg donated 99 per cent of his and his wife Priscilla Chan's shares in the social media giant, valued at $45 billion, to set up Zuckerberg Chan initiative.