Ganesh Ventures, a Chinese venture capital firm, is set to amalgamate in Indian culture with its entry into the country. The venture capital firm plans to invest $250 million in Indian startups across sectors like TMT, consumer products, fintech and health-tech over the next 3-5 years.
Besides, it has made its first close of $30 million funding round backed by Jack Ma’s ambitious eWTP Ecosystem Fund and Hong Kong-based Landmark Capital.
Ganesh Ventures will be eWTP’s strategic investment partner in India – a key market in its comprehensive international plan.
The India-focused venture fund aims to be a bridge for ambitious Indian entrepreneurs who want to access the Chinese startup ecosystem and stakeholders so that they can utilise cross-border resources, exchange learnings and explore synergies.
The fund would invest $500K to $5 million in each startup.
It has also taken a partnership approach that will allow the fund to invest its own capital in Indian startups as well open the gateway to other investors for larger follow-on capital raises. The total investment corpus of Ganesh Ventures’ partners is estimated to be in excess of a billion dollars.
Marking its maiden investment in India, Ganesh Ventures has recently invested in fintech marketplace Indialends. Jessica Wong who is a managing partner of Ganesh Ventures has a long connection with the Indian startup ecosystem.
Her previous fund Cyber Carrier had invested in six rising Indian companies. Wong claims handsome returns on her investments in Zoomcar, KrazyBee, GigIndia, and HappyEasyGo amongst others.
The new fund has already participated in the further rounds in aforementioned startups.
Ganesh Ventures will set up offices in Gurgaon, Bengaluru, Hong Kong and Beijing. The team has already started evaluating new projects and intends to source half a dozen deals within this calendar year.