Sachin Bansal infuses ₹890 cr into Navi Technologies

Home » Information Desk » Sachin Bansal infuses ₹890 cr into Navi Technologies



Sachin Bansal, who co-founded Flipkart , has invested ₹ 888.50 crore in his investment arm Navi Technologies, documents filed with the registrar of companies (RoC) showed.


Last year, Walmart acquired a 77% stake in Flipkart for $16 billion. Bansal, who had a 5.5% stake in Flipkart, made more than $1 billion from the sale of his stake in the online retailer. Following this, late last year, he set up BAC Acquisitions Pvt. Ltd—a holding company that was recently renamed as Navi Technologies.


Bansal co-founded BAC Acquisitions in December 2018 with his IIT-Delhi batchmate and former investment banker Ankit Agarwal. The holding company invests in startups, largely in the form of debt. Through Navi Technologies, Bansal has invested ₹ 250 crore each in non-banking financial companies (NBFCs) Altico Capital India Ltd and Indostar Capital Finance Ltd.


Recently, Bansal became the chief executive officer (CEO) of Bengaluru-based microlender Chaitanya Rural Intermediation Development Services Pvt. Ltd (CRIDS), joining the ranks of a growing tribe of seasoned entrepreneurs who have exited their businesses to either start a new venture or become business leaders in other companies. Bansal purchased a majority stake in CRIDS for ₹ 739 crore.


Bansal and Navi Technologies appear to be sharpening their focus on urban mobility and financial services.


He has also invested $3 million each in debt in scooter-sharing startups Vogo and Bounce. Bansal has also invested $100 million in Ola and led a $51 million funding round in electric vehicle maker Ather Energy.


In addition, the Indian Institute of Technology, Delhi announced on 31 October that its global alumni endowment fund will have an initial commitment of more than ₹ 250 crore, nearly half of which will come from Flipkart co-founders—Sachin Bansal and Binny Bansal.




LiveMint, 14 November 2019