Nippon India Digital Innovation AIF (NIDIA), a fund of funds, has invested ₹50 crore in seed and early-stage venture capital firm Endiya Partners’ Endiya Fund II.
Access to ‘friendly’ Japanese capital is paramount to the long-term growth of Indian start-ups, said Sachin Bid, fund manager of Nippon India Alternate Investments.
“We look forward to sharing our resources, particularly supporting Endiya’s portfolio companies in their market development and future financing efforts in Japan through the presence of our investor base,” he added.
NIDIA’s investment in Endiya Fund II comes in the backdrop of India recently tightening approval norms for investments from countries that share a land border. Endiya Fund II recently received a ₹75-crore investment (about $10 million) commitment from the International Finance Corp.
“We built a strong connection with the NIDIA team even before they invested… appreciate their confidence and support during such surreal times,” said Sateesh Andra, partner at Endiya Partners.
