WATCH: In India, for India: Chinese fund Morningside Venture Capital eyes Indian startups for outliers, ‘Indian’ ideas
3 May 2019 7:50 AM GMT
That China has a growing interest in Indian startups is no secret, and there?s no better example than Shanghai-based Morningside Venture Capital. With investments in three Indian startups in 2018, the fund is signalling its commitment for the long-term.
- Morningside Venture Capital investor Hanson HuHanson Hu, an investment manager at Chinese fund Morningside Venture Capital's India investments team, recently moved to Bengaluru to explore exciting opportunities.
- In fact, China became a power player in the Indian startup ecosystem in 2018 with funds from the country investing in 21 startups, compared with 12 in 2017, according to YourStory Research.
- Of these 21 investments, the $3 billion fund Morningside Venture Capital invested in three startups - Cashify, ShareChat and Cred.
- So far, the company has invested in three startups in India – Cashify, ShareChat, and Cred.
- Fintech startup Cred, founded by Kunal Shah, was Morningside's latest investment.