Xiaomi CEO Lei Jun and Xiaomi will replicate China’s business model in India and announced that it will invest $ 1 billion to 100 Indian startups over the next five years, our sister media TechNode China is reporting.

“We are interested in any application that can increase the frequency of using smartphones, as long as they are mobile Internet accelerating the popularity of the India market. We only plan to take a minority stake in order to work closely with these companies,” Lei Jun, CEO of Xiaomi said.

Xiaomi hopes to replicate the company’s investment experience in China to India. In the past four years, Xiaomi and its Shunwei Capital (顺为资本) has invested $4 billion in 300 companies in China. Shunwei Capital was founded in 2011 by Lei Jun and Tuck Lye KOH, and has invested in mobile internet and IoT companies such as Xiaomi, self-balancing scooter Ninebot, 17zuoye, video streaming service provider iQiyi, Renrenche, 51Talk, Aiyibang, Misfit, and Xiaomi’s real-time video call provider Agora.io.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com