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Startups

Japan venture specialist to launch $27m fund for India startups

Incubate Fund India will start providing seed money this summer

India's growing e-commerce industry may offer attractive investment targets for the Japan-based Incubate Fund.   © Reuters

TOKYO -- The Incubate Fund, a Tokyo-based venture capital specialist, will launch a new fund this summer with the aim of investing in promising Indian startups.

Experienced Japanese staff will be stationed in the southern Indian city of Bangalore to scout for companies to invest in.

The Incubate Fund India, which is being pitched to big Japanese companies and investors, plans to invest 3 billion yen ($27 million) by the end of the year. Its general partner is Nao Murakami, who previously worked at Nomura Securities and has business experience in India.

Many startups are growing rapidly in India's e-commerce and other sectors as the country's middle class grows. India has to 20 or so unicorns -- unlisted companies valued at $1 billion or more. Sequoia Capital of the U.S. and other big venture capital funds are also active in the Indian market.

Incubate mainly invests in early-stage startups in Japan and will adopt the same strategy in India.

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