Arjuna is a co-founder and managing partner of Flourish Ventures, an early-stage global venture capital firm that invests in mission-driven entrepreneurs and industry influencers working towards a fair financial system. With a primary focus on venture investing across emerging markets in Asia, Africa, and Latin America, Arjuna is driven by a deep compassion for vulnerable populations across the globe. He partners with entrepreneurs using innovative technologies to enhance their customers’ financial well-being.

Before Flourish, Arjuna was a partner at Omidyar Network, where he built a global portfolio of early-stage, inclusive fintech companies. Prior to that, Arjuna developed a deep understanding of the potential to radically alter traditional “brick-and-mortar” economics through mobile money solutions for the Bill & Melinda Gates Foundation. Before that, he invested equity and debt in consumer finance companies in emerging markets at The Rohatyn Group, a multi-billion dollar emerging markets investment firm.

In 2003, Arjuna co-founded a $120-million private equity fund focused on the turnaround of distressed commercial banks in Africa. The fund grew out of advising governments on the restructuring and privatization of its banking sector. Arjuna began his career at Lehman Brothers, where he spent five years financing power plants and airports globally.

Arjuna earned an MBA degree from Harvard Business School and a BA degree in Computer Science from Columbia University.

In The News
Opinion: Successful startups are led by healthy founders
May is Mental Health Awareness Month, and we’re launching the Flourishing Founders section on our site. At Flourish, we want founders to thrive, along with their companies. The page collects resources for company leaders and...
StepChange: Announcing Our First Climate Finance Investment
We are very excited to introduce you to StepChange, an India-based provider of cutting-edge climate data science solutions for risk management.
[The Africa Report] Flourish Ventures MD Arjuna Costa targets next generation of unicorns
Flourish Ventures, which invested in Nigerian unicorn Flutterwave in its first seed round in 2017, will be seeking to unearth new unicorns as it deploys $350m in fresh capital, managing director Arjuna Costa tells The...
We’re Doubling Down on Investing in Fintech Entrepreneurs with $350M in Fresh Capital
Today we are thrilled to announce a significant milestone with our early-stage global venture fund, as we’ve secured a new commitment of $350 million. This funding comes on top of the initial $200 million in...
founder wellness
[Built In] Is Your Board Strong? 5 Ways for Founders to Tell.
As the fundraising landscape shifts from boom times to a more challenging environment, the pressure is ratcheting up on founders.
embedded finance
Why We Invested in Mapan: Rising Social Fintech Empowers Indonesian Women
Flourish and Patamar re-teamed to invest in Mapan’s community of digital saving circles. In 2009, smartphones were a mostly untapped invention – and had not yet reached many emerging markets like Indonesia.
[The Enthusiast: Founders & VCs Podcast] Arjuna Costa (Flourish) challenges in achieving true financial inclusion
On this episode Pat sits down with Arjuna Costa, Managing Partner at leading financial inclusion fund Flourish, investor in the likes of Neon, Chime, Paga and Heru.
A Decade of Tech Innovation Fuels Financial Progress for Billions
Data Shows Great Strides Made, Yet Our Work Continues as Economic Worries Remain Just over a decade ago, the World Bank set out to survey 150,000 people across 148 countries to create the first Global...
embedded finance
[Flourish Conversations] The Corner Shop Isn't Dead: How Fintech and Embedded Finance Are Giving Them Extra Power
New research shows the corner shop is here to stay and poised to go digital. A $900B+ industry worldwide, fintechs are now serving corner shops across the retail value chain, developing low-cost, easy-to-use, online tools...
[Podcast oficial da Brazil at Silicon Valley] Episodio 20 - Arjuna Costa, Managing Partner na Flourish Ventures
Nosso convidado este mês é o Arjuna Costa, Managing Partner na Flourish Ventures, um fundo evergreen de Venture Capital que nasceu a partir da iniciativa de Financial Inclusion da Omidyar Network. Com mais de 70...
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