TDK Ventures founder and president Nicolas Sauvage told Mint that India is the firm's second-largest country by investment count, as corporate venture investors show greater interest in the market.
In an interview published Oct. 22, Sauvage said more corporate venture firms were examining India, but he had not seen a broad surge. “I have yet to see a tsunami,” he told Mint.
TDK's announcements list investments in six companies since July 2023: Infinite Uptime, Fasal, Exponent Energy, Ultraviolette, Ethereal Exploration Guild and C2i Semiconductors. Their businesses include industrial technology, agricultural technology, electric vehicles, space launch and semiconductor power systems.
Sauvage named semiconductors, AI infrastructure and robotics among the fields TDK is watching in India, alongside energy transition and digital transformation. He told Mint that the firm's first investment check typically averages $3 million to $5 million, usually for seed or Series A companies. He said TDK does not plan an India-specific investment vehicle and applies the same investment criteria across markets. Sauvage said corporate investors can also provide business connections and practical help as portfolio companies expand.
TDK announced its investment in C2i on May 27. Infineon Technologies completed its acquisition of C2i on Oct. 5 and said the company develops power-management technology for AI data centers. Infineon did not disclose the purchase price.
Other corporate investors have announced activity in India. Qualcomm said on Feb. 18 that it would invest up to $150 million through Qualcomm Ventures in Indian startups focused on AI for automotive, the internet of things, robotics and mobile. Hitachi Ventures described its participation in a June funding round for Exponent Energy as its first India investment.
Mint reported that TDK Ventures had a seventh India investment planned for later in October. Sauvage did not identify the company.
