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Japanese automaker Suzuki has announced it will launch an India-focused venture capital arm, Next Bharat Ventures, with an investment of INR 3.4 billion to back early-stage startups.
The fund aims to support entrepreneurs in Tier II and below regions and promote sustainable business solutions to social issues. It will nurture social impact startups in the areas of agriculture, financial inclusion, rural supply chain and rural mobility.
Vipul Nath Jindal, CEO and Managing Director, Next Bharat, said, “We are embarking on a journey to foster a community-driven impact entrepreneurial ecosystem. Next Bharat’s investment framework is focused on horizontal scaling and instead of focusing on creating two-three unicorns per fund cycle, we aim to create hundreds of profitable SMEs across a fund cycle.”
“There are existing stakeholders in the ecosystem that are already supporting these amazing impact entrepreneurs in various ways. Our long-term goal is to work closely with these stakeholders and bring them together to create combined synergies within the ecosystem,” he added.
Their flagship initiative, the Next Bharat Residency Programme, will offer an intensive four-month residency to early-stage impact entrepreneurs. Applications will be accepted till July 31, 2024 and the programme will commence on October 14, 2024. Selected startups will receive ongoing support and equity investment ranging from INR 10 million to INR 50 million.
The ultimate objective of the programme is to empower impact entrepreneurs to tackle key societal challenges and make the rural and informal economy a vital part of India’s growth journey.
Suzuki Motor Corporation President Toshihiro Suzuki highlighted the company’s goal of connecting with India’s “next billion people.”
“As part of this mission, we are launching Next Bharat Ventures, Suzuki’s first investment fund in India. The fund will focus on nurturing and supporting impact entrepreneurs. These impact entrepreneurs who are passionate about solving problems in India will also have access to the Suzuki Group’s network and resources,” Toshihiro said.
