Suzuki launches Next Bharat Ventures fund for Indian startups; worth Rs. 340 Cr
To support early-stage entrepreneurs, the Japanese automaker Suzuki has established Next Bharat Ventures, an India-focused venture investment arm, with a corpus of Rs 340 crore.
Suzuki, the only limited partner (LP) for the first fund, will establish the car as a subsidiary. LPs serve as fund sponsors.
Applications for Next Bharat Ventures’ first batch of residents, which will begin in October of this year, will open on Thursday. The company will make investments through this residency program. Residency programs like Antler and Y Combinator will be comparable to this one, but the emphasis will be on enterprises that can positively influence society.
Over the course of the next three to four years, Next Bharat Ventures hopes to make up to 20 investments annually. There will be checks ranging in size from Rs 1 crore to Rs 8 crore. Agritech, supply chain management, financial inclusion, and rural mobility are just a few of the industries that the fund will prioritize.
The investments will be made over a 15-year period, with a focus on companies that support workers in the informal economy, such as contractors and waste management personnel, as well as those that support the rural economy, such as farmers and craftspeople.
Under its nurture program, Maruti Suzuki India chose six startups in June 2023: DriverShaab, Route2Jute, OiHelp, Hopun Innovations, Backyard Creators, and Salutem Ridegear. In collaboration with IIM Calcutta Innovation Park (IIMCIP), the program was run.
Maruti Suzuki India purchased a 6.44% share in Amlgo Labs earlier this year.
