NEW DELHI, NNA – Yokogawa Electric Corp. of Japan has decided to invest in a fund of funds for Indian startups as a way of expanding its business.
Yokogawa Electric agreed on May 15 to invest an undisclosed sum in the Nippon India Digital Innovation Fund of Funds, which is managed by a subsidiary of Nippon Life India Asset Management Ltd. (NAM India), the industrial and electrical equipment maker said Thursday.
The Tokyo-based manufacturer has yet to disclose the timing of the investment.
The vehicle invests in early-stage venture capital funds in India. The 15 to 20 invested funds cover artificial intelligence, the internet of things, biotechnology, automation and blockchain…