China’s Ganesh launches $250m India VC fund
Ganesh Ventures, a Chinese investor focused on India, has reached a first close of $30 million for a VC fund targeting $250 million.
It coincides with participation in a $10 million Series B round for financial technology company IndiaLends, alongside UK-based ACPI Investment Managers, DSG Consumer Partners, AdvantEdge Partners, and American Express Ventures.
“We’ve been testing the waters in India for some time and have gained a valuable understanding of the market,” Jessica Wong, managing partner at Ganesh, said, according to The Economic Times. “The success we have achieved so far with our partners and portfolio strengthens our confidence to engage with more stakeholders and enhance our portfolio.”
The fund is said to be backed by investors across Europe and Greater China, including Hong Kong’s Landmark Capital and Electronic World Trade Platform, a vehicle associated with Jack Ma. The plan is to provide a bridge for Indian entrepreneurs seeking to access Chinese markets and start-up ecosystems in sectors including consumer and technology, media and telecom.
China-India cross-border technology investment has experienced a surge in the past year as industry players in both countries look to reach new sets of customers and remain competitive with global conglomerates. Chinese investors are expected to introduce a new dynamic to India’s tech sector through strategic alignments and filing local gaps in Series A and B funding.
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