Nippon India's fund of funds to launch second vehicle of $250-M: report

Nippon India Digital Innovation Fund, a fund of funds (FoF), which invests in India focused early-stage tech venture capital firms, will reportedly raise up to USD 250 million for its second vehicle. The FoF will have a portfolio of 15 to 25 India dedicated early stage, emerging technology VC firms and startups with cheques of USD5-15 million per fund. It will invest across sectors such as robotics, automation, IoT, AI-ML consumer technology, manufacturing, EVs etc