Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group, is setting up a $250 million (about Rs 2,300-2,400 crore) India-focused fund to back early and growth-stage startups, according to people familiar with the matter.
The fund is expected to invest largely in early-stage fintech startups, they said, and the corpus could be increased to $400 million.
It will be led by Mayank Shiromani, deputy chief investment officer at MUFG Innovation Partners.
