UAE-based VCs to set up base in India

DUBAI. Consul General of India in Dubai Dr. Aman Puri on Wednesday said several UAE-based funds and venture capitalists were planning to have a presence in India.

“They will take a little bit more time, but shortly we’ll be announcing that few other funds, VCs [and] family holding offices are actually now planning to have a full time presence in India,” said Puri during an event at the India Pavilion. Puri’s remarks come a day after UAEbased Gulf Islamic Investments (GII) announced that it will set up an office in Bengaluru.

“India is a consumption-driven economy, consumer, consumer tech, and health care, are three particular segments which are of great interest to us,” said Pankaj Gupta, Co-Founder and Co-CEO of GII.