Omidyar Network spins out its fintech investment arm as Flourish, with up to $300 million
Friday, March 8, 2019
By Jonathan Shieber
After twelve years spent investing in impact-oriented financial services startups around the globe, the Omidyar Network, which serves as the family investment office for eBay founder Pierre Omidyar, is spinning off its financial inclusion investment arm as Flourish Ventures.
Equipped with up to $300 million in capital for operations and investments, the new Flourish will continue to invest around the Network’s core mission of backing companies with a dual focus on making a social impact and achieving quality financial returns.
Already, the new firm is one of the most active financial services investors globally, according to a report from FT Partners.
This double-bottom line approach has already yielded results for the company.
“After ten or twelve years with people becoming more broadly interested in the impact investment space, and we had an opportunity to reinvent ourselves,” says Tilman Ehrback, a managing partner at the newly independent Flourish.
Photo courtesy of Sudipto Sarkar.