Micromax sets up $75 m fund

Micromax sets up $75 m fund

Handset-maker Micromax is setting up a $75-million independent fund that will focus on investing in domestic and international consumer internet companies.

In the last two years, Micromax has already invested in about 10 startups, including ixigo, Gaana, HealthifyMe and Scandid.

The fund — Orbis Capital — aims to raise $75 million in the next 12-18 months. Backed by Micromax as an investor and strategic partner, the fund will focus on investing in consumer internet companies both locally and internationally.

Orbis Capital is in the process of building an advisory board, alongside the investment team, and has already brought on board leading entrepreneurs, including Nami Zarringhalam (Truecaller co-founder) and Parry Blacher (former co-founder of Covestor).

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