India, April 30 -- Silicon Valley-based Tribe Capital is ramping up its investment in logistics startup Shiprocket through its newly launched special purpose vehicle (SPV) in India.

Tribe's cofounder Arjun Sethi said that the SPV will not only invest in companies but also engage in building and acquiring them in India, marking a departure from the conventional approach of global venture capital firms operating in the country.

The SPV is set to invest $75 Mn in Shiprocket, where Tribe Capital already holds the largest stake, ET reported. According to Sethi, the transaction will be completed in the coming weeks.

The SPV, established as a Gurugram-based entity, is co-owned by Sethi, Shiprocket cofounder Vishesh Khurana, and Raj Snehil Jun...