Sachin Bansal, the co-founder of e-commerce giant Flipkart, is reportedly looking for new investment opportunities in the fintech and agritech domain, making his come back into the Indian startup ecosystem.
According to media reports, Sachin Bansal is planning to establish a holding company which will invest in fintech and agritech startups. Sachin will partner with Ankit Agarwal for the new venture, whom he has known since he was in IIT Delhi.
However, the reports are not yet confirmed either by Sachin Bansal or Ankit Agarwal. Ankit is an investment banker and currently works as the Director of Bank of America. He has earlier worked with Deutsche Bank in the past.
After Walmart acquired Flipkart in a $16 billion deal, Mr Bansal has exited the Indian e-commerce giant and there have been reports of him actively exploring investment opportunities in various startups. Sachin has earlier invested in companies like Tracxn, SigTuple and Unacademy.
In October this year, media reports suggested that Sachin Bansal was in talks with the cab aggregator Ola to invest $100 million. Other media reports that he is actively looking to invest in firms like Ather Energy, SigTuple, and Acko. In August this year, media reports that Sachin was in talks to launch a $1 billion venture capital fund.
Fintech and agritech domain has been hot for quite a few years in India and is expected to remain in trends for the upcoming five to seven years. It is no surprise that Sachin is also looking forward to investing in these domains.
Details and time frame of the launch of his new venture are not yet confirmed by the media. However, it is speculated that he will be investing a large chunk of his capital into the Indian startup ecosystem, making minority and majority stake investments.
Investors like Omnivore Partners, Future Venture Capital Company Ltd. (FVCCL), IDG Venture, Accel Partners, Aspada Investments, IvyCap Ventures, Unitus Seed Fund, Rabo Equity Advisors, SAIF Partners, Villgro Innovations Foundation, Qualcomm Ventures and IDFC, among others have a keen interest in agritech sector.
The sector has raised $36 Mn from 15 agritech startups in 2017. IBEF report suggests that the country’s Gross Value Added (GVA) from the sector is estimated to have grown at 3% in FY18.