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Ganesh Ventures launched an India-focused fund with the support of the e-commerce giant Founder of the Alibaba Group Jack Ma, announced Tuesday
The VC firm, founded by former Cyber Carrier founding partner Jessica Wong in Hong Kong, has reached the first closing of its $ 30 million Indian fund backed by eWTP Ecosystem Fund, a fund conceptualized by Ma to boost trade Cross-border, Ganesh Ventures however plans to invest $ 250 million in start-ups in sectors such as TMT, consumer products, financial technology and health technology over the next 3 to 5 years .
In addition, the company will establish offices in Gurgaon, Bangalore, Hong Kong and Beijing. The team has already begun to aggressively evaluate new projects and intends to close half a dozen transactions during this calendar year, she adds.
"Ganesh Ventures signed Landmark Capital and Jack Ma's ambitious eWTP Ecosystem Fund. original idea of Jack Ma's dream initiative to boost cross-border e-commerce) led by Yongfu Yu. Ganesh Ventures will be the partner of the company. eWTP's strategic investment in India – a key market in its global global plan,
eWTP was launched in May as a $ 600 million cross-border fund to spur strategic investments to help businesses. international expansions and support for technological innovations
Ganesh Ventures, which has also received institutional investor pledges in Europe and Southeast Asia, aims to be it is a bridge for Indian entrepreneurs who want to access the Chinese ecosystem and stakeholders. The fund will not only invest its own capital in Indian start-ups, but will open the door to other investors for larger follow-on capital increases. . The total investment corpus of Ganesh Ventures' partners is estimated at more than a billion dollars. He has already participated in the other rounds of HappyEasyGo, GigIndia, Indialends and BeYouPlus.
"We have been testing the waters in India for some time and have gained a valuable understanding of the market.Our portfolio companies have received ongoing support from a growing number of strategic partners such as Xiaomi and the Alibaba Group. The success we have achieved so far with our partners and our portfolio strengthens our confidence to engage more stakeholders and improve our portfolio, "said Wong. . It made a profitable partial release of KrazyBee in October when Chinese smartphone maker Xiaomi and venture capital fund Shunwei Capital invested in the student loan platform
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