The Social Impact Investment Fund Next Bharat Ventures and IFSC Private Limited, a subsidiary of Suzuki Motor Corporation, have set up a fund of Rs 340 crore. The fund aims to support social impact entrepreneurs building sustainable businesses by addressing social challenges in Tier II cities and beyond. Next, Bharat Ventures will focus on start-ups in the areas of agriculture, financial inclusion, rural supply chain and mobility.

We are embarking on this journey to foster a deep social-based entrepreneurial ecosystem. The Next Bharat investment framework, instead of focusing on creating two or three unicorns in each fund cycle, focuses on parallel scaling that aims to create hundreds of profitable SMEs in one fund cycle, "said Vipul Nath Jindal, CEO and Managing Director, Next Bharat.

The investment fund has launched a four-month 'Next Bharat Residency Programme' for early-stage entrepreneurs. The objective is to select entrepreneurs who are influential, have a clear problem-solving approach, and are committed to contributing to the rural community or the informal sector in India.

"There are about 1.4 billion people in India, but in our mobility business, we have been able to reach only about 0.4 billion people. Our goal is to connect with the next billion people of India by expanding beyond mobility and becoming a part of India's future, "said Toshihiro Suzuki, President and CEO, Suzuki Motor Corporation

Suzuki Innovation Centre, which was established at IIT Hyderabad 2.5 years ago, will now be a part of Next Bharat Ventures. "" "This centre will continue to work on open innovation and Indo-Japan ecosystem building for social good," "the statement said"