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Alibaba, Myntra, GE joined hands with $50mn fund for Multiple Ventures

The top executives of Alibaba, GE and Myntra have come together to start a $50mn fund for their firm Multiple Ventures. It will invest in early-stage startups that are focusing on retail, fintech or edtech. Vijay Shekhar Sharma, the co-founder of PayTm and David A. Steinberg of Zeta Interactive, have committed Multiple Ventures their shares. The firm has also secured $10mn funds out of $50 million from their colleagues.