This came out of nowhere. Poor investments? Executive troubles? Both?
Bakchodimax
Stealth
9 months ago
Honestly the investing team lacked grit and commitment towards a founder or an investment. In late 2019 they finalised terms with us while an international investor was leading the round, they pulled out last minute because some random fuck company raised 2X the amount of our round from tier 1 vc. Now that company doesn’t exist anymore but I guess neither the fund…me too can never be an investment strategy but sadly this is pretty much how Indian vcs think. We’re still alive and growing 😁
Next21
Stealth
9 months ago
Did it have Subhashish Bhadra?
A quick look at their Indian portfolio shows many of their investments have shutdown but some of them have exited too.
Folks are only seeing the portfolios which have not made it but actually in terms of returns Omidyar has one of the best in the country. They were investing in ed tech, health tech etc even before these things became main stream.
Nope. Seriously low DPI, whereas Flourish, its sister concern raised a new 350mil fund. No reason why anything other than returns to be a deciding factor.
Very few hits from the portfolio, look at the capital it would have deployed and what did it return.
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Bijak - struggling
Brands of Bharat - ?
Bounce - was significant once, not anymore
Blackboard Radio - Shut recently
Doubtnut - poor exit
Dealshare - almost over
Otipy - Struggle
Vedantu - struggle
In fact, all over the portfolio, I see a few small-mid wins, but mostly losses.
A VC fund does not perform basis few small-mid wins, it's the 4 or 5 big wins that make of breakf you
https://share.gvine.app/tFvkHPuQd6dUnmAq9
Looks like you'd smelled it a month away. GG>
Umadbro
Stealth
9 months ago
Their investment support team (analysts And junior partners) was incredibly clueless. No alignment, no priorities, they would be interested in things others were interested in, and would only get a conviction if other heavyweights were interested. There are a couple more like that. India office has been poor for a while and it’s gonna show up someday for others too.
Next21
Stealth
9 months ago
True. I know some senior folks, they're pretty shit. Currently working with Subhashish (ex-Omidyar) and I only have terrible things to say
Royalflush
Stealth
9 months ago
I know of friends at Omidyar who are some of the very capable people I know. Not sure what they will be doing now, should check...
Next21
Stealth
9 months ago
Not really. I've worked with ex-Omidyar senior folks. They're pretty shit.
A big part of this is due to the government’s regulations (FCRA) on foreign funds involvement in grants, etc (which Omidyar does as well) which made their lives much harder
PureTablet
Student
9 months ago
Is Newslaundry omidyar investment?
Omidyar was focused on the Bharat TG. A noble pursuit but not a lot of startups can make money from there
Investor3823
Student
9 months ago
First of all without understanding Indian markets they make shitty investments and then complain about Indian markets
I'm not sure about poor investments in existing portfolio as mentioned above. They still hold a good chunk in companies like m2p, axio, verse etc.
This is going to increase, there will be funds that will fold up India ops. Most growth funds have struggled to show returns, look at all the new funds announced, I sense the largest subset of them will be early stage. You can make good multiples in India in the early stages, but growth bets - jury is still out.
Look at the most valued startups, including the ones struggling, best returns would be for the early stage ones.
Depth of market plus increasing spending power, which means higher income levels coupled with understanding the behavior of an Indian consumer customer is one of many directional indicators for the success of ecosystem.
We so need a humble brag post from their influencer investor. Been a while really
thehollowman
Stealth
9 months ago
Wasn't scaler part of their investment
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