The Silicon Review ^Asia

The core banking arm of the MUFG Group will be making the investment through the newly established MUFG Ganesha Fund

MUFG Bank has established MUFG Ganesha Fund through which the entity intends to invest in the Indian startups. The bank intends to pump in as much as $300 million into the Indian startup ecosystem through this fund.

"Through this fund, MUFG Bank will invest in middle- to late-stage Indian startups. In the future, we will aim to leverage our group strengths to provide a wide range of financial services to our portfolio companies," wrote MUFG Bank, in its press release.

India is experiencing significant growth at a breakneck pace. And the growth is expected to continue for the next decade. This growth is being augmented by the rise of the young digital natives in India coupled with proliferation of internet, and the support of government policies.

Many startups in the Indian ecosystem is using technology to solve social issues and reaching to audiences that need their products.

MUFG has pursued several initiatives in Asia such as building a business platform through investments in partner banks and supporting startups via Mars Growth Capital. The company has vowed to continue its contribution to the development of new industries and sustainable development of local communities by supporting the growth of startups in India.