Social impact investment fund Next Bharat Ventures and Suzuki Motor Corporation subsidiary IFSC Pvt Ltd have raised a Rs 340 crore fund. The fund aims to support social impact entrepreneurs building sustainable businesses by addressing social challenges in Tier II cities and beyond. Bharat Ventures will next focus on startups in the fields of agriculture, financial inclusion, rural supply chain and mobility.

“We are embarking on this journey to foster a deep social-oriented entrepreneurship ecosystem. "The NextBharat investment framework focuses on parallel scaling, aiming to create hundreds of profitable SMEs per fund cycle, rather than focusing on creating two or three unicorns per fund cycle," said Vipul Nath Jindal, CEO and Managing Director, NextBharat.

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

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

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