India’s startup marathon is gaining attention from near and far and already many foreign investors have come forward to invest in the startup campaign. The newest addition to the sea of investors is the Russian conglomerate Sistema JSFC. The company recently stated that it has floated a proprietary $ 50 million Asian Fund to pour into Indian startups. That would come up to Rs. 340 crore in India.  Sistema is mainly going to focus on the technology and consumer retails sectors.

While sharing his thoughts about their latest venture in India, VsevolodRozanov, group CFO ofSistema said, “The corpus of the Sistema Asia Fund will be increased in the future once its startup financing business grows in India.”

AndreyTerebenin, a former Sistema executive board member has already been relocated to India inorder to keep a close eye on the proceedings of the venture. Terebenin will be functioning as a senior managing partner of Insitel to oversee the advisory services function of the Sistema Asia Fund.

Sistema is at present headed by Vladimir Yevtushenkov and has its headquarters in Moscow. Its focus areas include IT and Telecoms, Microelectronics, Banking, Insurance, Construction, Retail and media. It is also involved in oil businesses and other niche areas like tourism, radio and sports.

Our country has been in the limelight ever since the startup explosion over the past year. India’s startup campaign too is in full-fledged action.  It has recently witnessed the launch of various startup accelerators and the flowing in of numerous foreign investments.