Chinese App maker APUS, along with other Chinese VC firms, has set aside another a massive ₹300 crores for investment in Indian mobile internet firms. The VC firms include Northern Light Venture Capital, Redpoint Ventures, Chengwei Ventures, SIG Global and Qiming Venture Partners.
The fund will help the Indian startups to enter the Chinese market through its APUS Global Mobile Internet incubator in Beijing. It will also offer one-stop services such as registration, office, accommodation, administration, human resource, and legal support, to the Indian startups to help them understand the Chinese market.
Just a couple of months back, APUS had also announced to invest 100 crores in early stage startups in India. “As an emerging market, Indian market potential is great and we would like to extend our assistance to early stage startups,” said Tao Li, initiator of APUS Fund and founder-CEO of APUS Group on setting the new fund for mobile internet firms.
Of lately, Indian startup ecosystem has seen many investments from Chinese companies including the Chinese giants such as Tencent and Alibaba. Tencent recently co-invested close to 600 crores ($90 million) in doctor discovery platform Practo whereas Alibaba has invested in Snapdeal and PayTm.
APUS, founded in 2014 and known for applications such as Apus Launcher, Apus Boost, Apus Search etc, claims to have a user base of 25 million in India and is targeting 80 million users by 2016. Earlier this year, it bought a minority stake in iAmWire, a digital media platform in Gurgaon.
It has tied with the Indian Mobile advertising firm InMobi to market their products and services in India and may eventually come up with a joint venture with the firm. APUS has also planned to set up a R&D wing, a technical support centre and an operations team in India next year and aims to make the country as its central point of its business in Asia.