Indian mobile handset brand, Micromax will reportedly set up an independent fund to invest in consumer Internet companies worldwide. The fund is expected to raise up to $100 Mn (INR 680 Cr).
Micromax will be the lead investor in the fund. The fund will invest in 10-12 startups with a $3 Mn-$5 Mn ticket-size. The new fund, Orbis Capital, is likely to raise money from private equity firms and pension funds, etc.