International venture capital funds are stepping up hiring in India as overseas capital flows into the country begin to stabilise after a prolonged slowdown and global investors seek a stronger on-ground presence to tap a maturing startup ecosystem. Recruiters and industry executives told Fe that funds from Japan and West Asia are leading the latest hiring push, signalling a shift from opportunistic investing to more structured, long-term engagement with the Indian market.
Transition from Offshore
Japanese investors, in particular, are expanding their local teams more aggressively than in the past. Funds such as Next Bharat Ventures, a subsidiary of Suzuki Motor Corp, and Kyoto-based Enrission India Capital are building out India-focused investment and support teams. While several of these investors have backed Indian startups for years, the current phase marks a more deliberate effort to establish decision-making capabilities within the country rather than operating through regional or offshore offices.
This trend is also visible among corporate venture capital arms. In September last year, Hitachi Ventures, the CVC arm of the Hitachi Group, hired former Accel executive Radhika Ananth to lead its India investments and subsequently built a local team around her. Recruiters said similar mandates are emerging from other global strategic investors looking to align venture investing with India-facing business priorities.
“Some of these are mature funds that have been investing globally for decades, but they are now expanding their India presence more seriously,” Himanshu Jain, founder of Break Into VC, who advises venture funds on hiring, told Fe. He added that Japan’s persistently low interest rate environment has made even moderate returns in India relatively attractive, strengthening the case for deeper engagement with the market.
West Asian Approach
Interest from West Asia is also rising, particularly from Dubai-based funds and family offices, though their approach tends to be more conservative. According to Jain, governance standards are a key focus for these investors, with even minor red flags often proving sufficient to stall or derail deals. Many such family offices manage between $100 million and $500 million in capital and are not under pressure to chase outsized returns. Instead, their investments are often driven by a desire to participate in long-term economic growth while preserving capital across generations.
Recruitment firms tracking the trend said that the pickup in hiring mirrors broader capital inflow patterns. Tushar Khandelwal, who runs PE-VC recruitment firm Basil, said countries with strong diplomatic and economic ties to India are accounting for a growing share of inbound capital. “These countries have a surplus of capital that cannot be fully absorbed domestically, so they look to markets such as India,” he said.
For international funds, hiring locally is increasingly seen as essential rather than optional. As deal sizes grow and regulatory and competitive dynamics become more complex, investors are prioritising candidates with prior venture experience and a deep understanding of the Indian ecosystem. “If you want to source quality deals and conduct meaningful due diligence, you need people on the ground who can navigate the market,” Khandelwal said.
The US continues to dominate Indian startup funding, both through direct investments and as a source of limited partners. Europe has seen relatively muted activity, while Asia is emerging as a key growth region. South Korea, in particular, is being closely watched. Earlier this month, Mirae Asset Financial Group said it would expand its private investing business in India and appointed Puneet Kumar as chief executive of its India venture capital arm, underscoring the broader shift towards building local leadership and teams.
