Billionaire Venture Incubation and DBS bank sign MOU for promoting start-ups

15 Sep 2022 , 12:15 PM

A Memorandum of Understanding (MoU) has been signed between Chennai-based Billionaire Venture Incubation and DBS Bank. This venture will do investments in India’s rapidly expanding startups through a Special Purpose Vehicle (SPV) .

In the beginning, the newly established joint venture will allocate $200 million in cooperation with DBS Bank to provide finance for more than 150 companies in Tamil Nadu, Karnataka, and Maharashtra. Additionally, the company has plans to later expand to the country’s north.

The venture will realize the desire of many young entrepreneurs to support other startups like this in the nation and generate millions of jobs in the years to come, in addition to creating thousands of jobs through this initial endeavor.

The JV will immediately concentrate on specific verticals like fintech, edutech, and other crucial fields, outlining the manner of operations for the 16 verticals picked. In addition to lending money, the JV would offer technology and training relevant to newcomers’ businesses.

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