Suzuki Motor's logo on a wheel
| Photo Credit: Reuters
Next Bharat Ventures (NBV), the impact-focused venture capital arm of Suzuki Motor Corporation, Japan, said on Friday that its first cohort of 21 portfolio startups has impacted more than two million people across India.Established in 2024, NBV deployed ₹347 crore through its first fund across sectors. Its second fund of ₹2,000 crore is backed by Suzuki Motor Corporation and four limited partners—Hakuhodo DY Holdings, Shizuoka Bank, Kanematsu Group and Toyota Tsusho.An impact report released by the firm said incomes of farmers, including tribal farmers, grew 75% year-on-year, while artisans and street vendors saw income growth of 93% and 25%, respectively.So far, NBV has backed five startups serving the informal economy — Blackfrog Technologies, eBik, CIBOS, Velann Mart and SGB Agro — have together impacted 14.7 lakh people and recorded revenue growth of 60.05%. Its 16 rural-focused portfolio companies have impacted nearly five lakh people and reported revenue growth of 186.13%.Revenue across NBV’s agriculture portfolio grew 246.66%, reaching more than 2.14 lakh farmers, customers, producers and livelihood beneficiaries. Startups in education, accessibility and healthcare reported 60% revenue growth while impacting 17.15 lakh people.Fujitani Masao, Executive General Manager, New Business, Suzuki Motor Corporation, said ““we believe that India’s next wave of growth will come from creating pathways for impact driven entrepreneurs building solutions to address the problems of their communities.”Vipul Nath Jindal, Founder and CEO of NBV, said the two-million-lives milestone was significant, but the firm aimed to scale its impact “exponentially” through its second fund. The fund will focus on businesses addressing last-mile gaps in healthcare and using technologies such as artificial intelligence for social good.Former NITI Aayog CEO Amitabh Kant said India’s next phase of growth would depend on unlocking the economic potential of its “next billion” people, adding that NBV was helping entrepreneurs build businesses beyond metropolitan centres.Among NBV’s portfolio companies, poultry farming startup Graduate Farmer has recorded eightfold revenue growth, with monthly farmer incomes rising from ₹15,000 to ₹25,000. Odisha-based goat farming startup Manikstu has reported fivefold revenue growth, reached 25,000 farmers and increased annual farmer incomes from ₹40,000 to ₹1.5 lakh. Published - August 28, 2026 08:24 pm IST
