The Indo-Japan Emerging Technology & Innovation initiative has secured Nippon Life and Suzuki as limited partners and will back up to 25 Indian VC funds.
Investment manager Reliance Nippon Life Asset Management (RNAM) is set to manage a $187m fund of funds that will be backed by several Japan and India-based corporates, Hindu BusinessLine reported yesterday.
The limited partners for the vehicle, dubbed Indo-Japan Emerging Technology & Innovation, will include insurance firm Nippon Life, automotive manufacturer Suzuki, financial services firm Mizuho Bank and state-owned financial institution Development Bank of Japan, according to an official familiar with the matter.
RNAM is promoted by Japan-based Nippon Life…
