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The Silicon Valley-based venture capital firm has earmarked about $500 million to back Indian startups, a source familiar with the matter told TechCrunch. The firm, which led a funding round in the Bengaluru-based cryptocurrency exchange CoinSwitch Kuber last year, is also looking to hire for several investment roles in the country, people familiar with the matter said. The firm — which in January said it had raised $9 billion for its venture, growth and bio funds — is exploring investment in an Indian startup that operates an opinion sharing platform at a valuation of about $250 million, one person said. If the firm, which is colloquially called a16z, goes ahead with the plan, it would be the latest high-profile investor to become actively involved in India. The firm has been exploring markets like India for years.
