Arsen Tomsky’s InDrive launched a venture arm, New Ventures, to invest in promising startups in the Middle East, Africa and Asia. The company is willing to invest up to $100 million in startups, but they must meet several criteria.
InDrive has launched its venture capital arm, New Ventures. Eligible startups can receive up to $100 million in funding, TechCrunch writes.
InDrive considers startups from the Middle East, Africa and Asia. They should be in the post-seed or pre-Series A stage and have a mission statement of “challenging injustice.”
Also among the criteria are stable cash flows, 2-3x year-over-year growth, and the potential for global expansion. An application to join the project can be submitted on the website.
In February, InDrive raised $150 million from General Catalyst to develop new products.
Author:
Kirill Bilyk
Source: RB
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