Flipkart Co-founder Binny Bansal is all set to launch a venture capital fund that will invest US $ 300-400 million in start-ups looking for growth capital.
The fund, likely to be based out of Singapore, will roll out by the end of this year and will involve the investment of other partners apart from Bansal being one of the anchor investors.
The fund will not only focus on Indian start-ups but also on budding entrepreneurs from all over SouthEast Asia.
Bansal has already roped in former Flipkart executive Rajneesh Baweja to be a part of the team and to handle finance and legal functions at the fund. Bansal moved base from Bengaluru to Singapore earlier this year to start preparations for the fund.
Bansal who sold a US $ 200-250 million worth stake in Flipkart earlier, still retains a 3 per cent stake that has an approximate valuation of US $ 1 billion. He is one of the few leaders of tech companies in India who is set to become an all time investor, a move that is not popular in India but has seen success in Silicon Valley and China.
After his Flipkart exit, Binny Bansal invested and took on the role of executive chairman at xto10x Technologies, a company founded by former McKinsey consultant Saikiran Krishnamurthy, which will offer technology tools, learning and consulting services to growth-stage startups.
Bansal has been making personal investments in start-ups for the last 5 years. He has also been investing in other start-ups in India like SigTuple, breast cancer-screening startup Niramai Health Analytix and Bengaluru-based dairy internet-of-things company Stellapps
