‘We plan to invest 15-20% of our third fund in India’

As Japan’s largest bank, MUFG has been investing in India’s fintech landscape, backing startups such as Jupiter, M2P, Lentra and Dhan through its corporate venture arm, MUFG Innovation Partners (MUIP).

- NOBUTAKE SUZUKI, CEO, MUFG INNOVATION PARTNERS

Now, the Tokyo-based investor is looking to widen its footprint, betting on the country’s digital financial growth story as well as AI-led innovations. Nobutake Suzuki, CEO, MUIP, discusses with Ayanti Bera the firm’s investment strategy in the country. Excerpts:

What drives your investment thesis in India?

It’s largely based on the growth potential of the country. India’s population of over 1.4 billion creates a large pyramid, from affluent consumers to those at the bottom. Many underprivileged people remain underserved by financial institutions, and fintechs are filling that gap. We also see opportunities to help Indian fintechs expand globally by connecting them with our bank entities in other regions like Indonesia, the Philippines, Vietnam, and Thailand, where MUFG owns stakes ranging from 20% to 94%.

Your portfolio spans fintech segments, from neobanking to discount brokerages. Do you have a preferred segment within fintech?