The fund aims to invest the amount in Indian startups across sectors like TMT, consumer products, fintech and health-tech over the next three to five years
Ganesh Ventures is all set to make an aggressive India entry as they announce their plans to invest $250 million. The company also becomes a strategic partner of eWTP Ecosystem Fund.
The fund aims to invest the amount in Indian startups across sectors like TMT, consumer products, fintech and health-tech over the next three to five years.
The first close has been at $30 million, with investors from Europe, Hong Kong, Taiwan and Mainland China backing Ganesh Ventures.
The company has signed Landmark Capital and Jack Ma's eWTP Ecosystem Fund, an electronic world trade platform, a brainchild of Jack Ma's dream initiative to boost cross border e-commerce led by Yongfu Yu.
It will be eWTP's strategic investment partner in India, a key market in its comprehensive international plan.
Ganesh Ventures aims to be a bridge for ambitious Indian entrepreneurs who want to access the Chinese startup ecosystem and stakeholders, so that they can utilize cross-border resources, exchange learnings and achieve market synergies.
What makes Ganesh Ventures unique is its partnership approach — not only will the fund invest its own capital in Indian startups but also open the gateway to other investors for larger follow-on capital raises. The total investment corpus of Ganesh Ventures’ partners is estimated to be in excess of a billion dollars.
“We’ve been testing the waters in India for some time and have gained valuable understanding of the market. Our portfolio companies have received continued support from a growing number of strategic partners such as Xiaomi and Alibaba group. The success we have achieved so far with our partners and portfolio strengthens our confidence to engage with more stakeholders and enhance our portfolio," said Jessica Wong, founder and managing partner of Ganesh Ventures.
Invited by Yongfu Yu to contribute to the global expansion of eWTP Ecosystem Fund as venture partner, Jessica believes that her team can bring a constructive difference to the Indian startup ecosystem.
Jessica Wong was the founder and managing partner of Cyber Carrier, a fund invested in six rising Indian companies across Fintech, Travel and Discretionary healthcare sectors.
“After years of exploring and analyzing India market, we can say with confidence that our investment and post-investment management strategy has worked very well, which is fully validated by our outstanding performance. Our new fund has already participated in further rounds of HappyEasyGo, GigIndia, Indialends and BeYouPlus, re-asserting confidence in our previous investments," she added.
Ganesh Ventures will set up offices in Gurgaon, Bengaluru, Hong Kong and Beijing. The team has already started evaluating new projects rather aggressively and intends to close half a dozen deals within this calendar year.