Japan's MUFG Bank is launching a $300 million fund to invest in Indian startups.
The MUFG Ganesha Fund will invest in middle- to late-stage Indian startups, with the bank saying it plans to provide financial services to the portfolio companies.
MUFG has not specified what areas it will target, but the bank has singled out fintechs supporting the unbanked as well as the environmental sustainability and renewables sectors as booming industries in India.
States the bank: "Through the fund, MUFG will also drive collaboration with promising companies in the areas of tech and IT, and explore new business opportunities."