Nippon India Digital Innovation AIF (NIDIA), a fund of funds, has invested ₹50 crore in seed and early-stage enterprise capital agency Endiya Companions’ Endiya Fund II.
Entry to ‘pleasant’ Japanese capital is paramount to the long-term progress of Indian start-ups, stated Sachin Bid, fund supervisor of Nippon India Alternate Investments.
“We sit up for sharing our assets, notably supporting Endiya’s portfolio firms of their market growth and future financing efforts in Japan by way of the presence of our investor base,” he added.
NIDIA’s funding in Endiya Fund II comes within the backdrop of India not too long ago tightening approval norms for investments from international locations that share a land border. Endiya Fund II not too long ago acquired a ₹75-crore funding (about $10 million) dedication from the Worldwide Finance Corp.
“We constructed a powerful reference to the NIDIA group even earlier than they invested… admire their confidence and assist throughout such surreal instances,” stated Sateesh Andra, associate at Endiya Companions.