Last month FinSight Ventures, a Californian VC firm belonging to leading Russian financial group FINAM, announced an investment in Indian startup fund Emphasis Ventures (EMVC).
The investment amounted to $25 million, reported Russky Venture, an influential Telegram channel.
“The partnership enables FinSight to have access to leading startups in rapidly growing and evolving Indian market as well as access to Emphasis’ deep FinTech expertise in Indian market,” according to a company statement.
EMVC focuses on payment technologies, new credit models, capital markets innovations, biometrics, blockchain applications for the underserved and related AI technologies. It is “building a bridge between America and India” to “help early-stage digital finance startups in India build global solutions.”
Several venture funds with Russian roots or management are active on the Indian startup scene. Among them are Sistema Asia, RTP Global (formerly known as Ru-Net) and Altair VC. Most recently Larix VC, a fund launched by Moscow-based businessmen Oskar Hartmann and Igor Rybakov, invested $1 million in Indian startup Ninjacart.
