Saturday, February 27, 2021
  • Markets & Companies
    • Stock Market
    • Companies
    • Appointments
    • Commodities
  • Business & Economy
    • Energy
    • Agricultural Economy
    • Insurance & Pensions
    • Aviation
    • Maritime
    • Road Transport
    • Financial Inclusion
    • Investment
    • Manufacturing
    • Consumer Goods
  • Innovation
  • MSME
  • Empire
  • Opinion
  • Cultural Currents
  • Features
  • AE Magazine
  • Corporate Rendezvous
Financial Street is a meeting point for technology, economy, and journalism.
No Result
View All Result
  • Markets & Companies
    • Stock Market
    • Companies
    • Appointments
    • Commodities
  • Business & Economy
    • Energy
    • Agricultural Economy
    • Insurance & Pensions
    • Aviation
    • Maritime
    • Road Transport
    • Financial Inclusion
    • Investment
    • Manufacturing
    • Consumer Goods
  • Innovation
  • MSME
  • Empire
  • Opinion
  • Cultural Currents
  • Features
  • AE Magazine
  • Corporate Rendezvous
Financial Street is a meeting point for technology, economy, and journalism.
No Result
View All Result

Omidyar Network unveils new venture firm, Flourish

by Africana Entrepreneur
March 12, 2019
in Frontline
0
Omidyar Network unveils new venture firm, Flourish
0
SHARES
6
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

Omidyar Network, an impact investment firm, has announced the launch of a new venture, Flourish.

According to a statement, the new firm is focused on backing entrepreneurs whose innovations are helping people across the globe to capture economic opportunity and achieve financial health.

READ ALSO

Huawei boss: 5G making industries go digital at faster pace

5G’s impact on global GDP over $7.5tn — Huawei partner

It said the firm launched with a global team of 18 professionals and an existing $200m portfolio across US and emerging markets, as well as an additional $300m at its disposal over the next five years.

Read Also:

  • Angola's 65 years oil history good, but...
    Angola's 65 years oil history good, but...
  • Fintech growth in Nigeria and challenges for SMEs
    Fintech growth in Nigeria and challenges for SMEs
  • Retracing Republic of South Sudan’s alliances
    Retracing Republic of South Sudan’s alliances

Flourish is an evergreen fund backed by Pam and Pierre Omidyar, the founder of eBay, according to the statement.

“We believe that capital, when deployed to create individual opportunity and change sectors, can shape a more inclusive economy — where everyone does better. That is at the core of Flourish’s mission,” said Tilman Ehrbeck, one of the three managing partners leading the new venture.

He added, “We have made remarkable progress in bringing people into the formal financial system, but that has not necessarily translated into better economic outcomes — that is the industry’s next challenge.”

According to the statement, Flourish’s global portfolio includes more than 40 fintech companies helping low- and middle-income households and small businesses to improve their financial standing, and the firm is pushing new frontiers with its investments.

“As an industry, we have a better understanding of people’s complex relationships with money than ever before, and technology is creating new models for enhancing earnings, protecting against risk, and building wealth,” said Arjuna Costa, managing partner at Flourish.

He said to reshape economic systems and create an opportunity for vulnerable people around the world, there was a need to invest in innovative technologies that give them more control over their financial lives.

“We back entrepreneurs with winning business models to responsibly harness the power of technology to improve their customers’ lives,” said another managing partner, Emmalyn Shaw.

“Our portfolio companies represent a new generation of purpose-driven innovators, who believe in market-based solutions to empower individuals, and are pushing the boundaries to deliver on that belief.”

The statement said Flourish, a sector-change oriented firm, would also continue to support thought leaders in financial services, as well as forward-thinking regulators and policymakers.

“This work will build on existing engagements with ecosystem builders, that range from CFSI and FinRegLab in the US, to Alliance for Financial Inclusion and R2A Accelerator across emerging markets,” it added.

close
Subscribe to our newsletter and join thousands of readers of our financial, economic & investments news blog!
We don't spam with your email

Check your inbox or spam folder to confirm your subscription.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: FlourishOmidyar Network

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Related Posts

Hadi Sirika, minister of Aviation
Frontline

Huawei boss: 5G making industries go digital at faster pace

July 6, 2020
386 operators investing in 5G, launched in 42 countries  -GSMA Report
Frontline

5G’s impact on global GDP over $7.5tn — Huawei partner

July 1, 2020
Africa's blockchain startups and roadmap to prosperous future
Frontline

Africa’s blockchain startups and roadmap to prosperous future

June 21, 2020
HIV test kit
Frontline

SPONSORED: Enter the new HIV test kit

May 23, 2020
SME Growth
Frontline

Survival of Nigerian start-ups and SMEs amid COVID-19

April 29, 2020
Sledgehammer On The Ant
Frontline

Sledgehammer On The Ant

April 11, 2020
Next Post
Avocado as the ‘green gold’ of Africa

Avocado as the ‘green gold’ of Africa

RECENT STORIES

NCS intercepts N950m worth of pangolin scales, lion bones at Apapa

Nigerian ports recorded 2.2% cargo decrease in 2020 – NPA

February 27, 2021
Nigeria, ABU may partner on fiscal policy formulation

Nigeria, ABU may partner on fiscal policy formulation

February 27, 2021
Angola's 65 years oil history good

Angola’s 65 years oil history good, but…

February 27, 2021
Fintech growth in Nigeria and challenges for SMEs

Fintech growth in Nigeria and challenges for SMEs

February 27, 2021
No disruption to operations, NSE assures at first digital closing gong

Nigeria’s equities market slumps further by 0.74%

February 27, 2021
Mariners canvass security fund to curb piracy

‘More Nigerian-owned ships carry foreign flags’

February 26, 2021
Why Ponzi schemes are unstoppable in Nigeria

Infinox Capital posts 61% growth

February 26, 2021

TRENDING

  • African business leaders call for sustainable response to COVID-19

    W’Bank projects $1.6bn vaccine roll-out aid by March

    2 shares
    Share 0 Tweet 0
  • Nigeria’s equities advance further by 0.14%

    2 shares
    Share 0 Tweet 0
  • CIBN’s mentoring scheme critical to banking sector – Stakeholders

    2 shares
    Share 0 Tweet 0
  • United Capital posts 57% growth

    2 shares
    Share 0 Tweet 0
  • Nigerian bank customers lose N3.35bn to fraudsters

    0 shares
    Share 0 Tweet 0
Financial Street is a meeting point for technology, economy, and journalism.

© Financial Street 2020. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • Markets & Companies
    • Stock Market
    • Companies
    • Appointments
    • Commodities
  • Business & Economy
    • Energy
    • Agricultural Economy
    • Insurance & Pensions
    • Aviation
    • Maritime
    • Road Transport
    • Financial Inclusion
    • Investment
    • Manufacturing
    • Consumer Goods
  • Innovation
  • MSME
  • Empire
  • Opinion
  • Cultural Currents
  • Features
  • AE Magazine
  • Corporate Rendezvous