Silicon Valley-based venture capital firm Walden International plans to step up investments in India and is waiting for clearances to start a local fund to back hardware and technology startups.
"We are currently investing from our overseas fund in India and at certain point of time in the future we will have a local fund. We are waiting for some government clearances," said Lip Bu Tan, chairman of the firm that manages investment of $2.6 billion through various funds.
Walden International has hired semiconductor industry veteran Ganapathy Subramaniam as a venture partner to invest in Indian startups.
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