11 April 2024 — Azim Premji’s investment fund, PremJi Invest, is contemplating an investment of $50–$70 million in Canva, the Australian graphic design platform. This investment is part of Canva’s recent secondary market sale, valuing the company at $26 billion.
Alignment with Creator Ecosystem:
PremJi Invest’s interest in Canva aligns with the thriving creator ecosystem, where Canva holds a competitive advantage. The investment is strategic, considering Canva’s anticipated public listing in the next two years and its strong position in the graphic design market.
PremJi Invest’s recent investments in generative AI, such as California-based Hippocratic AI, highlight its focus on leveraging AI technologies. This strategic move underscores the potential impact of generative AI across industries.
Canva’s India Expansion:
Canva’s significant presence in India, a key market with a vast creator community, makes it an attractive investment. Canva’s ongoing investments in AI and recent acquisition of Affinity Suite further strengthen its position in the creative software market.
PremJi Invest’s diverse portfolio includes investments in companies like Policy Bazaar, Flipkart, Byju’s, and PharmEasy, showcasing its strategic bets across sectors. This investment in Canva adds to its long-term vision and evergreen capital strategy.
