India: Next Orbit Ventures launches second $750m fund to back startups in electronics space

Ajay Jalan, founder & MD of Next Orbit Venture Fund. Image source from his LinkedIn profile.

Mumbai-based venture capital fund Next Orbit Ventures has launched its second fund called ‘$750 Mn dollar Fund II’ to invest in startups in the electronic system and design manufacturing (ESDM) space including semiconductor chips, solar and LED components.

The $750 million fund will be used to invest in semiconductor fab, fab science park, solar and LED fab, IoT, healthcare and other ESDM products. Of the 750 million, about $160 million (Rs 1,040 crore) will be invested in one of the consortia, mandated by the central government to create a wafer fabrication plant, according to a statement.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter