China's Largest Bank Sets Up $200 Mn Fund for Investing in Indian MSME Startups

Chinas Largest Bank Sets Up $200 Mn Fund for Investing in Indian MSME Startups
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  • Indian SMEs and small startup ventures, which are facing a funding crunch since a year or so, can rejoice now as the Indian unit of China’s largest bank, the Industrial and Commercial Bank of China (ICBC), has set up US$ 200 million fund (~ ₹ 1,442 crores) for investing in the promising Indian micro, small and medium enterprises and startup ventures, reported Business Line via PTI.
  • Zheng Bin, CEO of ICBC India, on Monday gave an overview of the Indian startup ecosystem and how to invest in them at the second ‘Startup India’ Investment Seminar organised by the Indian Embassy here.
  • More than 350 Chinese mostly representing Chinese Venture Capital (VC) funds, angel investors participated in a day long pitching session and seminar organised by the Indian Embassy in partnership with the Start-up India Association (SIA) and Venture Gurukool.
  • Forty-two Indian entrepreneurs representing 20 start-ups took part in the event which was expected to fetch good investments for the Indian firms, said Prashant Lokhande, Counsellor Economic and Commerce of the Indian Embassy, who addressed the event.


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