Flipkart co-founder Sachin Bansal is reportedly exploring new opportunities in the fintech and agritech domain, making his come back into the Indian startup ecosystem.
According to reports, Sachin Bansal will establish a holding company through which he will run his new businesses and make investments. He is expected to partner with Ankit Agarwal, for his new venture, whom he has known since his IIT Delhi days.
The developments are yet to be confirmed by either Sachin Bansal or Ankit Agarwal.
Ankit Agarwal, an investment banker is currently serving as the Director of Bank Of America, according to his LinkedIn profile. He has also worked with the Deutsche Bank.
Post Sachin Bansal’s exit from Flipkart, after Walmart acquired the Indian e-commerce giant in a behemoth $16 billion deal, there have been reports of Bansal exploring investment in various Indian startups.
In October, it was reported that Bansal was looking to invest $100 million in the cab aggregator Ola.
With the growing investor and entrepreneur interest in the fintech and agritech domain, it is no surprise that Bansal is also looking at these domains, to chart out his investments.
While details and time frame on the launch of his holding company are yet to be ascertained, the reports also suggest that he will be investing a large portion of his capital, making minority and majority stake investments.
In August, reports had also surfaced that Bansal was in talks to launch a $1 billion VC fund.
Apart from Sachin Bansal, various other Indian entrepreneurs have started their new ventures recently.
In October, it was reported that Ibibo founder Ashish Kashyap’s INDwealth raised ₹220 crore in seed funding from Steadview Capital.
Earlier this month, FreeCharge co-founder Kunal Shah unveiled his new venture Cred.