ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business deals

Xiaomi chief's fund hunts for next big Indian-language app

With $1.2bn, venture investor eyes country's unconnected rural population

Chinese investors recognize the potential for apps like myUpchar, which offer content in local Indian languages to draw new users online.   © (Photo by Mahesh Bacham)

BANGALORE -- A venture fund co-run by Lei Jun, founder of China's Xiaomi, has turned its attention to India's internet, betting that demand for content in local languages such as Telugu and Tamil will soar as rural communities are increasingly connected to the web.

Shunwei Capital, which backed Chinese unicorns such as video app developer ByteDance, streaming service iQiyi and electric-car maker NIO, raised $1.21 billion late last year to invest in the South Asian nation, especially in startups offering local-language content. The firm is led by Lei and Tuck Lye Koh, formerly with Singapore government wealth fund GIC Private.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more