The South African media conglomerate Naspers has set up a venture capital arm in India as it looks to increase its investments in the country.
The firm, which also has a presence in the US and Singapore, has set up an office in Bengaluru. The unit has started scouting for deals in the market already, with a focus on early to mid-stage transactions ranging from $10 million to $50 million for a minority stake, reports the Economic Times.
The company's investments and merge acquisitions in India will be driven by Ashutosh Sharma, who up until recently worked for venture capital firm Norwest heading up the team in Silicon Valley.
Naspers is said to be looking to invest in technology-focused start-ups in areas like healthcare, education and logistics, besides consumer internet and online retail plays