SMBC Bets on Indian Startups With $200 Million Fund as IPOs Soar

A fund co-run by the banking arm of Sumitomo Mitsui Financial Group Inc. plans to pour the bulk of the $200 million it has raised into Indian startups, betting that...

By Saikat Das · Bloomberg

A fund co-run by the banking arm of Sumitomo Mitsui Financial Group Inc. plans to pour the bulk of the $200 million it has raised into Indian startups, betting that the country’s booming IPO market will create opportunities to cash out.