DBS bank to fund startups with Billionaire Venture

Tags: Economy/Finance

DBS Bank India limited  has signed a Memorandum of Understanding (MoU) with the Chennai based Billionaire Venture Incubation to set up  a Special Purpose Vehicle (SPV) to fund  startups in India .

The SPV with $200 million capital will fund around 150 startups in Tamil Nadu, Karnataka and Maharashtra.

The Joint Venture will focus on funding startups in fintech, edtech and other critical areas. It will also provide technology and education support to startups.

IMPORTANT FACTS -

DBS Bank India Limited :

• DBS Bank India limited is a wholly owned subsidiary of DBS bank Singapore Limited.
• Headquarter : Mumbai, Maharashtra 
• Tagline : Live More, Bank Less
• Managing Director and Chief Executive Officer : Surojit Shome