China-based mobile internet firm APUS Group has launched a fund in India worth Rs 300 crore to invest in startups, reports Vccircle. The fund will focus on investing in early stage startups working on mobile internet projects.
The company will also encourage Indian startups planning to enter the Chinese market through the APUS Global Mobile Internet Incubator in Beijing. The incubator will help with company registration in China, provide office and living space and offer legal support.
Note that in August, APUS Group founder and CEO Li Tao had led a round of funding in the technology news portal iamWire. The company planned to use the raised capital for building scalable technology for startups, while a part of the funds would also be utilized to innovate on content to further grow the community.
APUS is an Android app development company and offers apps like APUS browser, user system, message centre, flashlight etc. Founded in 2014 by Tao Li, the company raised $100 million in a series B round of funding in January this year, after having raised $15 million in a series A round in 2014.
Recent VC funds in India:
– Last week, venture capital firm Tiger Global Management raised $2.5 billion for a new global fund. Read more here.
– In March, Venture capital firm SAIF Partners raised $350 million for a new India-focused fund from 27 investors.
– The same month, Accel Partners, the venture capital firm that backed the Flipkart, launched a $305 million India-focused fund to capitalise on favourable conditions for start-ups.
– In July, seed-stage fund AngelPrime raised Rs 300 crore from The Social+Capital Partnership and several institutional investors.
– Mayfield Fund closed its second India-dedicated fund at $108 million in February.
– Sequoia Capital added another $210 million to its existing $530 million-India fund in April.
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