Nippon India Digital Innovation AIF invests Rs 50 Cr in Endiya Partners Fund II

The fund-of-funds will invest in more than 15 venture capital funds in India.

Endiya Partners

Endiya Partners Fund II has raised Rs 50 crore from Nippon India Digital Innovation AIF Fund. The investment is intended to help Endiya portfolio of companies with financial and strategic support in order to scale sustainability. 

"We built a strong connection with the NIDIA team even before they invested. We truly appreciate their confidence and support during such surreal times. Apart from business and technology partnership, strategic investment, and exit opportunities, Tokyo Stock Exchange (TSE) offers an attractive liquidity option to grow product startups,” said Sateesh Andra, Partner at Endiya Partners. 

Nippon India Digital Innovation AIF (NIDIA), a fund-of-funds, supports the India-Japan Digital Partnership and is managed by Nippon Life India AIF Management Limited (NIAIF) – a 100 percent subsidiary of Nippon Life India Asset Management Limited (NAM India). Nippon Life Insurance (NLI) owns 75 percent of NAM India.

The fund-of-funds will invest in 15-20 venture capital funds in India. Nippon focuses on robotics and automation, internet of things (IoT), artificial intelligence, machine learning, and consumer technology. The company looks at verticals like manufacturing, EVs, automobiles, financial services, healthcare, education, ecommerce, retail, and pharma. 

Endiya Partners is a seed and early-stage venture capital firm investing in IP-led Indian product startups that are globally relevant. Endiya's current portfolio includes Darwinbox, Steradian Semiconductors, Kissht, SigTuple, and Myelin Foundry.

Endiya Fund II will invest in 16-20 startups, with an initial cheque size of $500,000 to $1 million in seed/pre-series rounds, and a planned investment of up to $5 million per company.

"We believe the partnership between India and Japan is of strategic national importance because it’s a perfect blend of Indian enterprise, its frugal innovation, and software skills with Japanese capital and their hardware prowess. We believe access to ‘friendly’ Japanese capital is paramount to long term growth of Indian start-ups" said Sachin Bid, Fund Manager, Nippon India Alternate Investments.

Endiya Fund II recently received a commitment of Rs 75 crore ($10 million approx.) from the International Finance Corporation (IFC), a member of the World Bank Group. IFC has also committed an additional $ 10 million for direct co-investments alongside Endiya Fund II.

Edited by Kanishk Singh


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