Belgium-based Venture Capital firm Verlinvest is planning to double its investments in India over the next three years, according to a Reuters report. 

Verlinvest's managing director and head of Asia Arjun Anand told the news agency that VC firm has invested over $110.3 million annually over the last few years, and it is aiming to double this figure in the coming years, with a particular focus on lifestyle and healthcare sectors. 

Huge Growth Opportunity in India

According to Anand, India is a promising market for the company, which offers greater growth opportunity. 

"India is the winning market for Verlinvest in Asia, and we are allocating more resources as returns on investments continue to improve," said Anand. 

He also outlined some of the challenges in the Indian market which includes longer time to expect startups and rupee depreciation, which could negatively impact returns. 

The comments from Anand comes at a time when the Indian startup ecosystem is receiving widespread attention from investors all across the globe. 

According to Inc42's 'Indian Tech Startup Funding Report, Q3 2024′, fundings for strartups in India in the first three quarters of this year reached $8.7 billion, representing a rise of 20 percent compared to the same period in the previous year. 

Moreover, the number of deals also grew to 766 from 691 in 2023.

Verlinvest: All You Need to Know

It was around 15 years back that Verlinvest entered the Indian market. 

Since the company started its operations in the world's fifth largest economy, it has backed startups including Purplle, BYJU'S, Lahori Zeera, Wakefit, Veeba, Epigamia, and Ferty9. 

Most recently, the company backed speciality coffee chain Blue Tokai Coffee Roasters by leading a $35 million Series C funding round.