American billionaire Tim Draper is spooked by India's new Citizenship Act that "chooses one religion over another"
- One of Silicon Valley’s most famous personalities
Tim Draperhas now spoken out against India’s Citizenship Amendment Act.
- Draper said that he is seriously concerned about his funding plans in India.
billionaireentrepreneur currently invests in India through Blume Ventures.
AdvertisementAmerican venture capitalist Tim Draper said that he is seriously rnking his funding plans in India - where its citizens are protesting against the Citizenship Amendment Act.
On Thursday, the protests took a new turn as thousands gathered across Delhi, Mumbai, Bengaluru, Hyderabad and many more.
India choosing one religion over another makes me seriously concerned about my plans to fund businesses there.… https://t.co/p4OhpxcwEK— Tim Draper (@TimDraper) 1576766899000
The billionaire entrepreneur who has invested in Skype, Tesla, SpaceX and Twitter, is known to be one of the most prominent faces of Silicon Valley. He also runs the famous
Before CAA, he was keen on India. Indian VC firm Blume Ventures had signed up with the Draper Venture Network. And, he had begun investing through Blume Ventures. But that’s not where Draper’s connections with India end.
His other VC firm Draper Fisher Jurvetson had an Indian arm which invested in Cleartrip, electric vehicle manufacturer Reva and more. However, he exited India in 2016 after selling the entire portfolio to Hong Kong-based NewQuest Capital Partners.
When he decided to re-enter India with Blume Ventures, Draper had said it was because of Modi.
“Modi is taking steps to root out Indian corruption. I think that will promote integrity throughout the country. Integrity promotes growth and confidence,“ Draper said in an email interview to ET.
But now, the very move by Modi is making him turn his back on the country.
India has seen atleast 10 instances of section 144 in the last 8 months of Modi 2.0
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