Mortgage Finance company HDFC said they are looking to invest up to INR 100 Cr per year in startups related to the tech sector.

HDFC Chairman Deepak Parekh, recently said that HDFC will make an in-house team at their headquarters to monitor the finances of the investment.

Deepak Parekh also gave an insight into his team and said that they will start operating in the coming two months. The team will dedicatedly work on learning the Indian startup ecosystem.

HDFC already offers capital solution services to startups called SmartUp. SmartUp assists startups with services like financial tools, advisory services, and technology.

Recently at an event in Mumbai, Deepak Parekh in conversation with young entrepreneurs said, “Do not be disillusioned with the current difficulties. The tide will and has to change”.