MUFG Bank announced that it plans to invest US$300 million in middle- to late-stage Indian startups through the new MUFG Ganesha Fund.
In the future, MUFG said that it will aim to leverage its group strengths to provide a wide range of financial services to its portfolio companies.
MUFG has pursued initiatives in the region since positioning the capture of Asian growth, responding to the digital shift, and contributing to environmental and social issues are priority strategies.
This includes efforts such as building a business platform through investments in partner banks and supporting startups via Mars Growth Capital, a joint venture between MUFG Bank and Israeli fintech Liquidity Capital.
MUFG said in a statement,
“We will further contribute to the development of new industries and the sustainable development of local communities by financially supporting the growth of startups in India.
Through the fund, MUFG will also drive collaboration with promising companies in the areas of tech and IT, and explore new business opportunities.”
