China’s big tech companies backs Indian startups
What we will say, Is this Narendra modi effect or what but China's one of the largest search engine Baidu and one of the country's biggest private conglomerates Fosun are scouting to invest in Indian startups, joining compatriots from the Middle Kingdom eager to profit from the opportunities in the world's fastest-growing major economy. Investment managers from both companies are in talks with Indian venture capitalists and start-ups for potential funding deals, two people directly aware of the development told ET.
Taiwan's Foxconn is also an investor in Snapdeal along with Japan's SoftBank. "They (Baidu and Fosun) have been having conversations about specific opportunities — the startup names include niche e-commerce firms as well as some in the enterprise space," said a second source....