Japanese SoftBank Group plans to double down on its investments in India with a new $5 billion Asia fund, half of which is expected to be invested in the South Asian country.
The new Asia fund will look to invest in companies across development, innovation, technology, and telecommunication.
SoftBank is expected to launch the fund by the first quarter of the financial year 2019.
Earlier this year, the firm sold a 20 percent stake in Flipkart to world largest retailer Walmart when the latter picked an initial stake of about 88 percent in Flipkart for $16 billion.