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Family offices of Alibaba’s Jack Ma and Joseph Tsai exploring investments in India

The family offices of two of Asia’s richest men, Alibaba Group chairman Jack Ma and executive vice chairman Joseph Tsai, are among a fresh breed of Chinese investors exploring investments in India, seeking to replicate their successes outside their home market.

While their personal investment vehicles are yet to park money in Indian startups, feelers have been sent through informal networks, according to two people with direct knowledge of the overtures made by the investors. Ma’ net worth is estimated at $22.8 billion (about Rs 1.5 lakh crore) and Tsai’s at $5.5 billion-$ 7 billion.

Meetings between the emerging pool of Chinese private capital and the representatives of Indian startups are mostly being held in Singapore and Hong Kong, according to the sources, who declined to be identified. The new-found interest of the Chinese family offices could offer respite to an Indian startup ecosystem beset by a severe funding crunch because of current investors who have grown cautious about pouring in more money.

“I don’t think there is any trend that suggests Chinese investors will write cheques faster than other investors,” said Aashish Bhinde, executive director and head—digital and technology, at Avendus Capital. “However, they have the ability to make late-stage VC investments and write $50-100 million cheques, where a big demand supply gap exists today.”