New Delhi, July 6 -- Next Bharat Ventures IFSC Pvt Ltd, an India-focussed impact investment platform set up by Japanese automaker Suzuki Motor Corporation, has launched its second fund with a target corpus of Rs 2,000 crore ($210 million).

The new vehicle, launched two years after its predecessor, will see Suzuki Motor step in as the anchor investor. The firm, however, declined to disclose the automaker's commitment to the fund.

The first fund, which had a corpus of Rs 340 crore ($41 million), invested in 20 companies such as MeMeraki, an Indian folk art marketplace; E-Bik, a rural mobility brand providing affordable e-mobility kits for cycles and rickshaws; SGB Agro, which offers affordable mechanization for smallholder farmers; and Atypical Advantage, a livelihood platform for persons with disabilities (PwDs).

Next Bharat Ventures' second vehicle will raise capital from external limited partners (LPs) in Japan.

"Our first fund is proof that impact and business can co-exist, and that strong businesses can be built and scaled around livelihoods and improved quality of life," said Vipul Jindal Nath, founder and chief executive officer of Next Bharat Ventures. "Our impact founders are innovators working on grassroots-level transformation while ensuring business output, with over 90% of our portfolio companies already heading towards profitability in their early years."

Through the new fund, Next Bharat Ventures is looking to invest in entrepreneurs across sectors including agriculture, rural supply chains, financial inclusion, healthcare, rural mobility, and AI for social good, it said.

"Japan's investment in India has always been rooted in a shared belief in India's potential, and nowhere is that more evident than in our four-decade partnership," said Toshihiro Suzuki, representative director and president of Suzuki Motor. "With Fund II, we are deepening this commitment and are honoured to walk this path with the Government of India toward a truly Atmanirbhar Bharat."

Suzuki set up Next Bharat Ventures in 2024 to offer founders an end-to-end support ecosystem beyond capital. It also runs a 10-day residency programme that supports early-stage entrepreneurs through mentorship, networks, and equity investments ranging from Rs 1 crore to Rs 5 crore.

Published by HT Digital Content Services with permission from VC Circle.