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MUFG plans $250m fund for India startups
Japan’s Mitsubishi UFJ Financial Group is setting up a US$250 million India-focused fund according to people familiar with the matter.
Most investments are expected to target early- and growth-stage startups.
The fund could increase to US$400 million and would follow MUFG’s US$300 million Ganesha Fund, launched in 2022 by MUFG Innovation Partners as a growth-stage India vehicle.
Its mandate spans lending and payments, wealth and asset management, capital markets, and banking software.
Through that fund, MUFG has invested in Indian brokerage platform Dhan.
The move comes as Tiger Global and SoftBank have sharply reduced their India startup investing.
🔗 Source: The Economic Times
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