China-based mobile utility app developer Apus has launched a Rs 3bn ($45m) fund that will invest in mobile internet companies based in India, the Economic Times reported on Saturday.
The fund has secured backing from technology and trading firm Susquehanna International Group and venture capital firms Northern Light Venture Capital, Redpoint Ventures, Chengwei Ventures and Qiming Venture Partners.
Apus has also invested an undisclosed amount in IamWire, an India-based news publication reporting on the country’s startups, and will use that partnership to identify potential investees.
The company will assist businesses to enter China through its Apus Global Mobile Internet incubator. It set aside $15.4m to invest in Indian startups in September this year, though it is unclear whether that was a separate commitment or the initial close of the $45m fund.
Founded in 2014, Apus has created a launcher for the Android mobile operating system. The company raised $100m in a January 2015 series B round from the fund’s backers above, as well as $16m in a series A round featuring Northern Light and Redpoint in June 2014.