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Binny Bansal Planning to Launch $400 Mn VC Fund

In what could spell good news for startups, Flipkart’s co-founder Binny Bansal is in the midst of launching  a  new venture capital (VC) fund with a target corpus of $300 – 400 Mn, according to Times of India (TOI). The fund will look to back capital starved Indian startups but will also look to infuse funds into startups originating from the Southeast Asian countries.

Binny Bansal, former Co-founder & Group CEO of Flipkart

According to TOI, Bansal will be a general partner operating the fund and will also join in as one of the anchor investors. Flipkart’s co-founder could also bring other investors on the board, with reports claims that other investors could be like fund of funds and family offices joining anchor investors.

Bansal has already started working on team formation and has brought former Flipkart executive Rajneesh Baweja to look into the legal and finance aspect of the fund.

This development has come barely few days after Bansal decided to pare down its stake in Flipkart by selling shares worth $14 Mn to existing investor Tiger Global. This is in addition to his earlier sell off transaction where he sold shares worth $76 Mn. If reports are to be believed then Bansal still owns 3% stake in India’s home grown e-commerce giant.

As and when Bansal’s fund will be launched, he will join the rare breed of tech entrepreneurs who have made successful transition into a full-fledge startup investor. Simultaneously, he has also founded a startup xto10x Technologies – a software and consulting venture.

Sachin Bansal, on other hand, has also turned into an active investor since his exit from Flipkart. Through his BAC Acquisition, Sachin Bansal is turning out to be a specialized debt investor.

With both Bansal turning into active investors, Indian startups have something to cheer up for especially amid the ongoing economic slowdown.


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