APUS Group today announced $45 million or Rs 300 crore investment fund to invest in mobile Internet innovation projects in India.
APUS Fund in India will be led by APUS Group and comprises Northern Light Venture Capital, Redpoint Ventures, Chengwei Ventures, SIG Global and Qiming Venture Partners.
Tao Li, founder and CEO of APUS Group, said: “The foundation of APUS Fund will accelerate the development of APUS Group and strengthen our relationship with the country.”
India will have more than 500 million Internet users by 2017 with 40 percent Internet penetration against China’s 638 million with a penetration of 48.4 percent.
India is the second largest telecom market with 800 million smartphone users, with 150 million expected increase in 2015, 250 million in 2016, and 300 million in 2017.
India’s mobile Internet growth will be driven by 3G networks, Wi-Fi and 4G. Access to Internet will cost less and the infrastructures will boost the development of mobile Internet in India.
APUS plans to fund potential start-ups in the Indian mobile Internet market. APUS will offer financial support, user resource, traffic support, marketing promotion and brand building along with financial aid.
Besides in India, APUS Fund will provide support for Indian start-up companies who wish to enter Chinese market through its APUS Global Mobile Internet Incubator in Beijing. APUS will provide one-stop services including registration, office, accommodation, administration, human resource, legal support, etc. to help Indian companies understand and adapt to Chinese market.