SoftBank could invest as much as $10 billion in Indian startups in 2022, more than the country's entire annual venture funding in 2018, senior executive Rajeev Misra said, signaling aggression from the Japanese investor.
SoftBank has invested over $3 billion this year in Indian startups this year, from social commerce firm Meesho to software firm Mindtickle.
While the IPO environment for internet startups is more aggressive than ever, it will cool down once pent up demand is satisfied, said Misra, CEO of SoftBank Investment Advisers speaking at the Bloomberg India Economic Forum . If opportunities are good, SoftBank could invest upto $10 billion even though it is cutting smaller cheques than before.
A number of SoftBank-backed Indian startups are expected to list soon. It started with insurance firm Policybazaar, and followed with Paytm, SoftBank's mega bet and one of India's biggest IPOs. Other SoftBank portfolio companies including Lenskart, Delhivery, InMobi, Ola and Oyo are expected to list soon.
SoftBank founder Masayoshi Son said in a SoftBank earnings call earlier this week that while Paytm listed at a valuation of $20 billion, he expects its valuation to rise in the future.
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