Bertelsmann secures funding of $500 million to back early and late-stage tech startups
- ByStartupStory | June 29, 2022
A $500 million venture capital fund with a focus on India has been unveiled by Bertelsmann India Investments. The VC firm also stated in a statement that it will consider making a few Series A investments, signalling an intention to venture into early-stage investments.
For the time being, Bertelsmann plans to spread funds over 6–8 businesses each year. It intends to concentrate on investments in agri-tech, fintech, future of work, health tech, business tech, and other areas in 2022 and 2023. The fund intends to expand its presence in India and the region while keeping an eye on disruptive technologies like Web3 and deep-tech.
Pankaj Makkar, managing director of Bertelsmann India said, “As a result of several disruptive companies creating such an ecosystem, mid-stage investment in India and the surrounding area has moved from the early growth stage to the early growth stage. With a decade of experience, we have seen that firms and entrepreneurs are already displaying maturity. Without a sure, the business environment is shifting, but we are prepared to adapt.”
The strategic investment division of the media company Bertelsmann SE & Co. KGaA with its headquarters in Germany, Bertelsmann India, doesn’t specifically have an India-focused fund; instead, it makes investments from a balance sheet. One of the few mid-stage venture capital companies in India is Bertelsmann India. Although Bertelsmann India is typically industry neutral, it tends to focus more on the consumer, fintech, education, and logistics.
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