HDFC Bank signs MoU with 100X. VC to collaborate on start-up support
- ByStartupStory | June 15, 2022
HDFC Bank, a private sector lender, has signed a memorandum of understanding with 100X.VC, a well-known early-stage venture capital firm, to expand its engagement with the country’s start-up ecosystem.
For all firms linked with the venture capital firm, the bank announced the availability of its entire package of specialized services and facilities tailored for start-ups, dubbed ‘Smart-Up.’ It also said it would provide these start-ups more financing and analyze their investment possibilities.
As a result of this MoU, HDFC Bank and 100X.VC will engage in mutually beneficial areas. HDFC Bank will be recommended as the primary bank for all of the venture capital firm’s investee companies. According to the companies’ statement, the bank aims to improve the ecosystem by supporting innovation and entrepreneurship through such partnerships.
The bank will also evaluate start-ups recommended by 100X.VC for investment and credit extensions. In addition, HDFC Bank and 100X.VC will work together on initiatives such as Master Classes for start-up businesses in India.
The MoU was signed in the presence of Abhishek Deshmukh, Maharashtra Branch Banking Head, and Yagnesh Sanghrajka, Founder & CFO, 100X.VC, Sanjay Mehta, founder & Partner, 100X.VC, Ninad Karpe, Partner, 100X.VC, and other top bank officials.
Follow Startup Story
Related Posts
