Sachin Bansal's Grand Comeback – A $1 Billion Fund?
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Months after his much-talked about exit from a company that he drove to success, Sachin Bansal – Flipkart’s ex CEO – is back to don the entrepreneurial cap again. But this time, he’s truly back with a bang. Reports suggest that Bansal is set to launch a $1 Billion fund.
Bansal’s Exit from Flipkart
Bansal exited Flipkart after Walmart acquired 77 per cent controlling stake in the Indian e-commerce company for $16 billion, making it the biggest e-commerce deal in the world. There were a lot of speculations about his exit from the company he built, many had even noted that Bansal was asked to leave because of disagreements with the Walmart’s board and the latter’s lack of interest to let him continue as CEO.
Bansal had then gone on to put out a note on social media. He wrote, “Sadly my work here is done and after 10 years, it’s time to hand over the baton and move on from Flipkart.”
As is obvious, many had then wanted to know his next move. On his note, Bansal had said, “I’ll be taking some long time off and focus on finishing a few personal projects which I haven’t been able to find time for. Will catch up on gaming (and see what kids are playing these days) and brush up on my coding skills.”
And now he’s back.
The Big Billion Fund
According to reports, Bansal will soon be launching a $1 Billion fund, through which he will be investing in startups. Rumours also have it that Bansal who will be making a billion dollars by selling his 5.5 per cent stake in Flipkart, will be himself putting in 40 per cent of the new fund from his recent earnings.
While Bansal hasn’t confirmed the news about his new venture, it waits to be seen what are the various sectors in which the e-commerce entrepreneur would invest in.
Reports also suggest that Bansal is considering investing and running an Artificial Intelligence startup. In a personal capacity, Bansal has invested in multiple startups in a range of sectors including healthtech, edtech etc. He started investing in 2014, while Flipkart held a steady ground and went on to raise large investments. Some of his investments include Sigtuple, Unacademy, Inshorts, Tracxn, Ather Energy, SpoonJoy (his first investment), Plabro Networks etc.
On his own, Bansal has created a name to reckon with in the Indian startup ecosystem, juggling between the roles of an entrepreneur, investor and mentor. His accomplishments also saw him book a place in the Times 100 list of 2016.