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The Silicon Review Asia

Chinese Multinational Bank to Invest in Indian MSMEs, Set up $200 Million fund

Chinese Multinational Bank to Invest in Indian MSMEs, Set up $200 Million fund

China’s largest bank, the Industrial and Commercial Bank of China (ICBC)has made an announcement that its Indian subsidiary has set up a $200M fund. Through the funding, the multinational bank will invest in Indian MSME’s (Ministry of Micro, Small, and Medium Enterprises).

In the event called 2nd ‘Start-up-India’ Seminar, Zheng Bin, CEO of ICBC India elaborated about the network of the Indian ecosystem, and how investments should be made in them. The event was organized by the Indian Embassy in China.

During the event, about 350 Chinese Venture Capital Funds representatives and angel investors attended the seminar throughout the day. The Indian Embassy along with Venture Gurukool and SIA, Start-Up India Association organized the event.

From India, 43 entrepreneurs who represented from different startup took part in the event. The event likely fetched good investments to Indian firms.

According to the press, last year, during the India investment seminar which was held in 2017, 4 out of 12 Indian firms got fundings from the Chinese VCs to the tune of $15M.

This year, during the current round of fundings in the event, 7 to 8 startups out of 20 will likely get a commitment to the tune of $30M.

Overall, the high profile event showcased many ChineseVenture Capital Funds to the Indian startups. It would help the startups for communicating with the huge Chinese investor’s community for receiving investment for the growth of their companies.

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