According to Bloomberg, JPMorgan is trying to back Indian startups. This year, the US largest bank has reportedly become the top arranger of equity sales in India. Now the financial institution is ready to help finance the growing number of startups in this country.
JPMorgan intends to cooperate with India’s leading industry companies.
Startups launched in India, which are mainly engaged in artificial intelligence (AI), energy, and the production of environment-friendly hydrogen, are supposed to reach a wide audience and move into overseas markets.
The startup ecosystem in India is considered quite resilient compared to similar ecosystems in other countries. The Indian fintech industry is currently the third-highest funded in the world after the United States and Britain.
Among investors in Indian businesses are large international companies such as Y Combinator, Peak XV Partners, and TPG. JPMorgan is poised to join them and build more extensive ties with its Indian clients in four to five years.
As bank representatives note, the financial institution will not “just do transaction-based engagement” but also “offer products and services which are relevant to the global market.” JPMorgan aims to go beyond investment banking and occupy a worthy niche in the innovation segment.
