Hakuhodo DY backs Suzuki's second India impact fund

What's the deal? Hakuhodo DY Holdings has signed on to invest in Next BharatDealroom has a profile for this one. Try Dealroom → Venture Fund-2, the second impact fund run by Next Bharat Ventures (NBV), a wholly owned Indian subsidiary of Suzuki Motor. The fund backs startups tackling social issues in agriculture, rural supply chains, financial inclusion, and healthcare for India's "next billion" consumers.

Who's involved? Suzuki serves as anchor investor in the fund, which launched in 2026 at a reported US$271.6M. Hakuhodo DY joins fellow Japanese limited partners Toyota TsushoDealroom has a profile for this one. Try Dealroom →, KanematsuDealroom has a profile for this one. Try Dealroom →, and Shizuoka BankDealroom has a profile for this one. Try Dealroom →, extending Japanese corporate interest in the vehicle.

Why now? Hakuhodo DY has named incubation a growth area in its medium-term plan and is now formalising its India push. With a population above 1.4 billion and rapid digitalisation reaching provincial cities and rural areas, the company sees new business openings in agriculture, food, finance, and healthcare.

What's the endgame? Beyond the financial stake, Hakuhodo DY wants to build consumer insight into India's regional markets, where Japanese firms have few footholds. It aims to become a partner for Japanese companies entering India through co-creation with local startups.

Context: NBV's first fund, set up in 2024, has backed 26 startups. Based in Gandhinagar and led by chief executive Vipul Nath Jindal, the firm invests at seed stage across food, agriculture, fintech, and digital health. Early Fund-2 commitments include portable vaccine carrier maker Blackfrog Technologies and electric mobility startup eBikDealroom has a profile for this one. Try Dealroom →.

The signal: The lineup — Suzuki, Toyota TsushoDealroom has a profile for this one. Try Dealroom →, KanematsuDealroom has a profile for this one. Try Dealroom →, Shizuoka BankDealroom has a profile for this one. Try Dealroom →, and now Hakuhodo DY — points to a widening bet by Japanese corporates on India's rural economy, using impact capital as a way into a market they are still learning to read.

Read more: prtimes.jp

Image credit: Generated with Gemini