Social+Capital Partnership to invest $1 bn in India over 10 years

The VC fund is looking to invest in sectors such as financial services, power and energy, infrastructure and agriculture


Bengaluru: Chamath Palihapitiya who heads Social+Capital Partnership, a California-based venture capital firm, said his firm is looking to invest around $1 billion into India over the next 10 years. The VC fund is looking to invest in sectors such as financial services, power and energy, infrastructure and agriculture or industries that potentially can reach a billion people, he said.

The Sri Lankan born former Facebook Inc. vice-president said that Social+Capital was not interested in investing into Indian versions of American companies. The VC fund helped Bengaluru-based Ezetap Mobile Solutions Pvt. Ltd raise $24 million (around Rs.150 crore) earlier this week. Social+Capital is a partnership of philanthropists, technologists and capitalists.

“Our goal, over the next 10 years is we really like to get a $1 billion dollars invested in the country,” he said. Adding that the time frame could be much shorter if the opportunity arises, he said that the number also could increase if it saw good traction here. Though Social+Capital has so far invested through Prime Ventures, Palihapitiya said that the VC fund could look for investment opportunities on its own.

Palihapitiya said the fund would invest in interesting companies. “We are finding things that can make India prosperous,”he said, adding that its investments will more towards technology enabled companies. Social+Capital has so far invested close to a $1 billion in over 50 companies in the US.