Suzuki sets up investment arm, $40 million fund in India

Suzuki Motor Corp. has set up a $40 million fund to invest in small rural businesses in India, the Japanese automobile company said.

The company has set up a 100%-owned subsidiary, Next Bharat Ventures IFSC Pvt. Ltd, and a fund, Next Bharat Venture Fund-1, a Suzuki statement said.

The fund will operate out of Gujarat, Bangalore and Hyderabad, and will be led by Vipul Nath Jindal.

Next Bharat will back social entrepreneurs in agriculture, financial inclusion, supply chain and mobility sectors through the fund, with the aim of solving social issues in India through business.

The company also plans to invest in venture capital firms, it added.

“There are about 1.4 billion people in India, but we have only reached about 0.4 billion people. Next Bharat will focus on nurturing and empowering social entrepreneurs, who are passionately solving the problems of India,” Suzuki president Toshihiro Suzuki said in the statement.

“Through this, we will connect with the “Next Billion” people of India, extending beyond mobility and becoming a part of India’s future story,” he added.

Suzuki began production and sales of automobiles in India in 1983, and has since been providing customers with mobility options, including automobiles and motorcycles.

Through Next Bharat, “Suzuki aims to build ties with the people of India beyond the mobility sector and contribute to the further development of India,” it added.