New Delhi: Alibaba which has fuelled the growth of several Indian start-ups, will not put in fresh funds to expand its investments in the country for at least six months, the sources said.
However, there are no plans to reduce its stakes or exit investments, they added. The sources declined to be identified as the talks are private.
Alibaba did not respond to a request for comment.
The Chinese conglomerate and its affiliates Alibaba Capital Partners and Ant Group have invested more than $2 billion in Indian companies since 2015 and participated in funding rounds of at least another $1.8 billion, according to data from PitchBook, which tracks private market financing.
Hitting the brakes could slow fundraising plans for some of Alibaba’s investee companies in India, which include payments platform Paytm, restaurant aggregator and food delivery service Zomato, and e-grocer BigBasket.
