Moneycontrol Bureau
In a bid step up pace of investments, South African internet conglomerate Naspers has floated a venture capital arm in the country, The Economic Times reported on Monday.
According to the report, the company will be investing in technology-focused startups in areas like healthcare, education and logistics, besides consumer internet and online retail plays.
The firm has also roped in Ashutosh Sharma to lead investments and merger and acquisitions in the country. He was earlier working with venture capital firm Norwest, the report added.
Naspers has invested about USD 1.5 billion invested in India and owns classifieds player OLX, travel firm ibibo, payments firm PayU and a 15 percent stake in, online retailer Flipkart.
The company has a presence in the US and Singapore, has set up an office in Bengaluru. The unit has started scouting for deals in the market already, with a focus on early to mid-stage transactions ranging from USD 10 million to USD 50 million for a minority stake.
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