Micromax to launch $100 million Orbis Capital to invest in consumer internet startups

One of India’s leading mobile handset makers, Micromax, will reportedly launch an independent fund with an initial corpus of $100 million named Orbis Capital. Micromax is looking to use the funds to invest in Consumer Internet startups around the globe. There will also be a board of advisors in the Orbis Capital.

It is likely that Micromax will be raising capital from PE firms and pension funds, among others and will be the lead investor in this new fund. With an average ticket size of $3 million to $5 million, the company will be investing in more than 10 startups using the fund of $100 million.



According to reports, the company has already identified some potential investments and within the next 18 months a few deals may be signed too. Depending on the fund raising, Rahul Sharma, Micromax’s co-founder, said that investments could be done in the next six months.

The handset maker will give continued focus on innovative startups and Micromax may integrate the services or products into their platform or hardware in an attempt to build value for customers. This is in line with the firm’s progressive investment in research and development facilities.