Suzuki Motor Corporation created Next Bharat Ventures, its Indian venture capital arm, with Rs 340 crore to fund early-stage entrepreneurs.
The car will be a Suzuki subsidiary, and Vipul Nath Jindal, managing director and CEO of Next Bharat Ventures, informed ET that it will also be the only limited partner (LP) for the inaugural fund. LPs serve as financial sponsors.
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The vehicle will not be like a typical corporate venture capital (CVC) arm but act like an independent unit of it, with the local team deciding on investments, said Jindal, who was earlier the head of Suzuki’s innovation centre in Japan.
The vehicle will not be like a typical corporate venture capital (CVC) arm but act like an independent unit of Suzuki, with the local team deciding on investments, said Jindal, who was earlier the head of Suzuki’s innovation centre in Japan.
Next Bharat will use a residency program to invest in startups. Applications for the first cohort, which will start in October, were accepted as of Thursday. These initiatives will resemble those of Antler and Y Combinator, among others, but they will concentrate on startups who are using their companies to have a positive social effect.
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“We don’t expect the participants to be in the city all the time… though the city provides the space and opportunity to learn and network, they are impact startup founders and will likely need to be on the ground a lot. We want to provide them that flexibility,” Jindal said.</strong
Next, Bharat will concentrate on companies that support workers in the rural sector, such as farmers and artisans, as well as those in the informal economy, such as gig workers and waste management employees. Additionally, it will function as a fund-of-funds, making investments in smaller funds as an LP.
About Suzuki
Suzuki Motor Cycle India Private Limited, a subsidiary of Suzuki Motor Corporation, Japan, has focused on value-packed products since its founding. SMIPL makes two-wheelers for precious Indian clients in all categories.
