India’s startup scene is exploding right now, so much so that it has drawn the eye of Google. The company is so interested in it that it has announced that Google Capital, its division dedicated to investing in mid-stage technology companies, will be expanding into India soon. This is especially significant when you realize that this will be the first time Google Capital is expanding outside of the United States.
More evidence of global investors’ growing interest in India’s startups: Google’s new investment arm is setting up shop in the country. In what will mark the first such expansion outside the U.S., Google Capital — a wing of the tech giant that invests in mid-stage technology companies — is interviewing candidates for a position to lead their efforts in the populous nation. “It makes a lot of sense to focus on India right now,” Google Capital partner David Lawee told The Wall Street Journal. He noted that the country of 1.2 billion recently surpassed the U.S. in terms of its number of Internet users, and that local entrepreneurs “are responding” with “innovative” offerings for the domestic market and thinking about global growth, as well. There is no time frame available for making the hiring, and it is unclear which city such a person might be based in, according to Google. The person will focus on India and any promising sectors are fair game, the company says. It did not disclose how much is available for investments.