Sony’s new VC to roll the dice on Indian startups

Tokyo based Sony Corp. is setting up an India-focused venture capital arm that will act as a co-investor in startups alongside celebrities such as film stars and sports personalities and look to participate in the funding boom that has given rise to several unicorns over the past 12 months, people aware of the development told ET.

The $81-billion global media conglomerate, with businesses as diverse as gaming, film and music production and electronics manufacturing, will commit $200 million to the VC arm to begin with, the sources said.