Investment firm Omidyar Network India to shut operations: Report

Mumbai-headquartered investment firm Omidyar Network India is shutting down its operations. The firm, which has backed several Indian startups like 1MG, Quikr, Doubtnut and Vedantu, will move out of the market by 2024-end. Backed by Omidyar Group, the firm will reportedly be closing the follow-on investment rounds committed to date, but will not make any new investments henceforth.