Ganesh Ventures develops $250mn India fund backed by Jack Ma’s eWTP

Chinese Venture Capital firm Ganesh Ventures has announced it will launch a fund focussed on India.

Ganesh is looking to invest $250mn in startups across sectors including TMT (technology, media and telecom), consumer products, fintech and health technology. It will invest the funds over the next 3-5 years.

So far, $30mn has been raised for the India fund, which is backed by eWTP Ecosystem Fund and Landmark Capital. eWTP was launched by Alibaba’s Jack Ma in 2016 to enable SMEs to expand their businesses globally.

See also:

Ericsson establishes Center of Excellence and Innovation Lab for 5G in India

Indian insurance startup Policybazaar becomes unicorn

Read the latest Asia edition of Business Chief!

Ganesh will set up offices in Hong Kong, China and India, and aims to enable Indian entrepreneurs to access the Chinese startup space, as well as allowing for larger follow-on capital raises after initial funding.

So far, Ganesh has taken part in funding for Indian startups including HappyEasyGo, an online flight booking platform; GigIndia, a platform that allows students to work for brands; Indialends, an online loans provider; and BeYouPlus, a beauty treatment app.