NEW DELHI: Mobile handset maker Micromax today said it is looking at raising funds to beef up its war chest for strategic acquisitions and ruled out the possibility of its founders exiting the firm. Reports suggest that the city-based company is looking at raising as much as USD 1 billion from overseas investors, including Japan’s SoftBank and Alibaba Group’s online financial services firm Ant Financial. While the company confirmed that it is looking to raise funds, it has declined to comment on the timeline or the size of the funding it seeks. “Nobody is exiting. This is the only thing we do… Founders are absolutely not exiting. This is always a speculation when you bring on a CXO team,” Micromax co-founder Vikas Jain told. He added that the four co-founders (Vikas Jain, Rahul Sharma, Rajesh Agarwal and Sumeet Kumar) hold about 80 per cent stake in the company. The remaining 20 per cent is held by TA Associates, Sequoia Capital, Sandstone Capital and Madison India Capital. Asked if any of the other investors were looking at an exit option, Jain said: “From the perspective of conversation with investors, in terms of anyone wanting an exit, the investors have been here for close to five years, we have been given to understand by all of them that they are not looking to exit.” Micromax is looking at beefing up investments in research and development of its products and services as well as invest in start-ups to stay competitive against rivals like Samsung and Xiaomi. Micromax closed 2014-15 fiscal with an estimated revenue of Rs 11,000 crore, growing at about 50 per cent.