Omidyar Network announces its exit from the Indian market after a decade of operations

In a significant development, impact investment firm Omidyar Network India, operating with a unique dual-chequebook investment model, is set to exit the Indian market after a decade of operations.

In a statement, the organization expressed pride in its decade-long contributions and announced the decision to refrain from any further investments in India.

The Omidyar Group revealed in an internal blog post that, after several months of careful deliberation, Omidyar Network India had made the strategic decision to cease new investments and complete its full transition out of the market by the end of 2024. The board and leadership team will meticulously assess the management of the organization’s existing portfolio over the next two months, emphasizing the enduring partnerships cultivated by the Omidyar Network India team.

The decision to exit the Indian market is underpinned by the evolving economic landscape and contextual changes witnessed by the India-based team since its initial investments in 2010. Notably, the philanthropic and venture capital landscape in India has undergone a transformative shift, with increased local leadership, a thriving start-up sector, and numerous funds aligning their strategies with middle- and lower-middle-income focus.

Omidyar Network India, renowned for its pivotal role in shaping the impact investment sector, particularly targeting the Next Half Billion, has successfully catalyzed substantial interest from local venture capitalists, impact investors, and domestic philanthropists.

Omidyar Network India’s impending exit marks the culmination of a decade-long journey that has significantly impacted the trajectory of investment in the country. As the organization prepares to wrap up its operations, the focus remains on strategic portfolio management and acknowledging the enduring relationships forged during its tenure in India.