American VC firm QED Investors to deploy $300 million in India, APAC, report says

QED Investors, the US-based venture capital firm with deep roots in fintech, is preparing to deploy between $250 million and $300 million across early and growth-stage startups in India and the broader Asia-Pacific (APAC) region over the coming years.

The firm, which closed a $925 million fund in 2023, plans to channel a major portion of this capital into India, reflecting its conviction in the country's maturing startup ecosystem.

“While we do not have separate allocation for each geography, India will of course attract the major share of the investment planned for Asia,” said Sandeep Patil, partner and head of Asia at QED Investors, in a conversation with The Economic Times.

Doubling down on Asia, starting with India

Founded in 2007 by Nigel Morris, co-founder of Capital One, QED Investors has long maintained a thesis around technology-driven financial inclusion, with early bets in fintech unicorns like Credit Karma, Remitly, NuBank, and Klarna.

In Asia, the firm has already deployed $220 million over the past five years, backing Indian startups such as Jupiter (neo-banking), OneCard (credit card origination), Upswing (embedded financial infrastructure), and Efficient Capital Labs (revenue-based financing for SaaS firms).

Patil noted that QED will invest through both its growth and early-stage funds. First cheques could range from $3 million to $20 million, while follow-on investments in growth-stage companies could go up to $50 million. 

QED is also scouting investment opportunities in Indonesia, Singapore, Japan, and other key APAC markets, which are in line with the region's rising digital adoption and regulatory tailwinds for financial innovation.