Japanese automotive giant Suzuki has unveiled Next Bharat Ventures, a dedicated venture investment arm for the Indian market, under the leadership of MD and CEO Vipul Nath Jindal. This initiative comes with a substantial Rs 340 crore fund aimed at supporting early-stage startups.
Next Bharat Ventures, established as a subsidiary of Suzuki, will operate with Suzuki as the sole limited partner for its initial fund. The venture plans to invest in up to 20 startups annually over the next three to four years. Investment amounts will range from Rs 1 crore to Rs 8 crore, targeting sectors such as agritech, supply chain management, financial inclusion, and rural mobility.
A key aspect of Next Bharat Ventures is its residency program, akin to those run by Antler and Y Combinator, focusing on startups making a significant social impact. The first cohort is set to commence in October, with applications opening soon.
The fund’s strategy spans 15 years, with a focus on supporting businesses that benefit informal economy workers like gig workers and waste management workers, as well as those impacting the rural economy, such as farmers and artisans.
In collaboration with IIM Calcutta Innovation Park, Maruti Suzuki India recently selected six promising startups—DriverShaab, Route2Jute, OiHelp, Hopun Innovations, Backyard Creators, and Salutem Ridegear—as part of its nurture program in June 2023. Earlier this year, Maruti Suzuki also made headlines by acquiring a 6.44% stake in Amlgo Labs, further bolstering its commitment to fostering innovation in the startup ecosystem.
