Venture Intelligence (TSJ Media Pvt. Ltd.)
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Japan's MUFG Bank launches $300-M India-specific fund
Japan-based Mitsubishi UFJ Financial Group's banking subsidiary MUFG Bank is to invest USD 300 million in Indian startups through its fund named ‘Ganesha'. The fund backs startups with an average ticket size of USD 2-30 million. Through the fund, MUFG will also drive collaboration with promising companies in the areas of tech and IT, and explore new business opportunities. The move comes shortly after the financial services giant renewed its debt venture fund, Mars Growth Capital – its joint venture with Liquidity Capital. The second fund of the JV intends to deploy USD 300 million in debt financing to late-stage pre-unicorn and unicorn, public listing-ready companies, with a special focus on Asian-Pacific startups. Notable Indian startups that have raised debt funding from MUFG's Mars Growth Capital include Zetwerk, Dispirz, Hiver, and Bizongo.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.