Investment money from Japan is flowing into Indian Internet startups.
The Economic Times said Wednesday that while VC powerhouse Softbank Capital has been clinching deals with some of India’s biggest online consumer players, other Japanese-led firms are grabbing a piece of the action.
With their own economy still recovering from last year’s recession, Japanese funds are eyeing opportunities in India’s growing online economy after making similar moves in China and Southeast Asia. Some are running their operations out of Singapore-based VC firms.
The Times noted that Tokyo-based Beenos Partners has been backing local startups, including ShopClues and Citrus Pay. Singapore-based Rebright Partners is also said to have announced a $20 million fund for India this week.
“Other seed stage investors such as IMJ Investment Partners and M&S Partners are moving fast to bet on the country’s most lucrative sectors as well,” the Times said.
“We are interested in India-only services, as well as startups which want to go abroad. We can help with global expansions in Southeast Asia, Japan, U.S. and China, because of our presence there,” Hiro Mashita, founder and director of M&S Partners told the Times on a visit to Bengaluru last week.