(Ecofin Agency) - Omidyar Network announces the launch of a venture capital baptized Flourish Ventures.
The capital of this new venture is $300 million provided by Pierre Omidyar (photo), Omidyar Network’s founder and eBay co-founder.
The financial resources will be used to fund US and African fintechs in the coming five years. "At Flourish, we will continue to back bold ideas and new business models that responsibly harness the power of technology to build a fair and customer-centric financial sector," the venture capital indicated on its website.
It will launch its operations by the $200 million assets formerly managed by Omidyar Network.
Let’s note that Omidyar Network has an important portfolio in Africa. It funded Paga and Lidya, two Nigerian fintechs.