Shunwei Capital, Xiaomi bet big on Indian startups

NEW DELHI: Two well-entrenched Chinese investors — Xiaomi and Shunwei Capital, which also share deep linkages — have struck their first deals in the new calendar year in the Indian startup ecosystem, as they look to add to their portfolios in Asia’s third-largest economy.

Shunwei Capital, which manages assets of about $3 billion and founded by Xiaomi founders Lei Jun and Koh Tuck Lye, has co-led a $5.5 million (about Rs 40 crore) investment round in regional language podcast app Kuku FM.

This is latest deal struck by the Chinese investment firm, which has emerged as one of the most active dealmakers in India’s startup ecosystem.