It has backed startups such as Faasos, Embibe, Furlenco and Droom
Flipkart-owned online fashion retailer Myntra has named former Amazon executive Jeyandran Venugopal as its new chief technology officer (CTO), replacing Ajit Narayanan, who has resigned from the company. Venugopal becomes Myntra’s third CTO in less than a year—before Narayanan took over the role in November last year, Shamik Sharma was… Read more »
The company has pledged to invest at least $5 billion in India
The combined corpus of the funds is about $244 million.
Morgan Stanley, Fidelity, Valic and Vanguard hold a small stake.
This would allow 500Startups to do more seed-stage investments in India.
It is seen as a sign of Kalaari’s willingness to reach a deal with SoftBank.
Differences between Snapdeal investor SoftBank and 2 other shareholders persist.
For VC firms, particularly home-grown ones, any cash is welcome.
Fortigo had raised $2 million in seed funding from both Nilekani and Accel at the time of its launch.