<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/intex" target="_blank">Intex Technologies</a> has launched a Rs 150-200-crore ($23-30 million) fund to invest in startups, according to a report in The Economic Times.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/intex" target="_blank">Intex Technologies</a> has launched a Rs 150-200-crore ($23-30 million) fund to invest in startups, according to a report in The Economic Times.
The move comes close on the heels of another smartphone manufacturer <a style="color: #000080;" href="http://dealstreetasia.com/tag/micromax" target="_blank">Micromax</a> announcing the setting up of a new $100 million independent fund named <a style="color: #000080;" href="http://dealstreetasia.com/tag/orbis-capital" target="_blank">Orbis Capital</a>. While Micromax would be the anchor investor for the fund, it will also raise funds from private equity firms, pension funds among other investors, both in India and overseas.
Intex,  on the other hand, plans to invest from its balance sheet primarily in businesses with which it has synergy such as electronics, apps, mobile phones, human resources and sports.
Intex sells electronics products across three verticals—mobile phones, consumer durables and IT products. Under the three verticals, it sells almost 16 product categories including mobile phones, LED television sets, washing machines and computer peripherals. Its most recent category launch was the wearables category, which it entered in mid-2015, with smart watches and bands.
&#8220;Investments in early-stage startups are part of our larger plan to diversify into other businesses such as sports, healthcare and internet of things. Equity stakes in startups may range from 10-15% to 25% while ticket sizes may range from Rs 10-15 crore,&#8221; said Keshav Bansal, director, Intex Technologies told the news paper.
According to the news report, Intex has made its first investment from the fund into sports mobile app <a style="color: #000080;" href="http://dealstreetasia.com/tag/rooter" target="_blank">Rooter</a>. The app enables sports fans to interact live with each other during a match. Intex Technologies owns the Gujarat Lions cricket team of the Indian Premier League.
Chinese mobile phone maker <a style="color: #000080;" href="http://dealstreetasia.com/tag/xiaomi" target="_blank">Xiaomi</a> has also been an active investor in the Indian startup space. The company had announced plans to invest $100 million in venture-backed Indian startups in hardware and software technologies.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/intex-plans-rs700-crore-ipo-to-raise-funds-for-expansion-39362/" target="_blank">India’s smartphone firm Intex plans $105m IPO to raise funds for expansion</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/64230-64230/" target="_blank">India: Smartphone maker Micromax to float $100m investment fund</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/xiaomi-eyes-indian-mobile-technology-start-ups-for-investments-tie-ups-50528/" target="_blank">Xiaomi eyes Indian mobile technology startups for investments, tie-ups</a>

Intex Technologies has launched a Rs 150-200-crore ($23-30 million) fund to invest in startups.

India: Smartphone maker Intex launches $30m fund to back startups

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India: Smartphone maker Intex launches $30m fund to back startups

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