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Home / NEWS / Multiply Venture: A step taken by the former e-commerce executives of Alibaba, Paytm, Flipkart and Myntra.

Multiply Venture: A step taken by the former e-commerce executives of Alibaba, Paytm, Flipkart and Myntra.

According to an announcement, the major three former e-commerce executives Raveen Sastry, Bhushan Patil and Sanjay Ramakrishnan have joined hands to launch Multiply Ventures, an early-to-growth-stage fund for investing in the domestic consumption story.

Having worked in firms such as Alibaba, Paytm, Flipkart and Myntra, the trio is now looking forward to support young, budding entrepreneurs by investing in them. These three personalities are willing to support those who serve the large Indian consumption basket across sectors such as retail tech, edtech and fintech, among others.

However the structure of the fund has not been revealed by the founders, recently a report pegged it at $50-million of which $10 million is said to have already secured in commitments.

While, Patil has completed stints at Alibaba and Paytm, Ramakrishnan is known for his contribution in companies such as Flipkart and Myntra.

Sastry, however, has collected direct entrepreneurial experience as the co-founder of Myntra.

Whereas Indian market provides a appreciable opportunity in terms of size, it’s nevertheless also one of the most diverse and complex markets to scale.

At present,issues faced by Indian start-ups in the domestic market are quite similar- how to remain price competitive, how to gain enough margins and how to keep customer acquisitioncosts low.

While majority of the firms are successfully raising money,  the lack of a proper revenue model is leading them to wind up businesses.

In fact, the Indian market is really different from few of the more homogeneous western and Asian markets, according to the statement issued by Multiply founders.

Other things that will play a vital role in helping start-ups scale are operational talent across functions and leveraging local partnerships.

According to Multiply Ventures, it brings People, capital and ecosystem into a single platform to significantly increasing and enhancing the odds of a start-up succeeding.

Apart from providing access to capital which is start-up-friendly, the fund also grants the access to industry experts, and links customers, distribution, technology to start-ups.

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