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Tim Draper may pull out of India over citizenship law
Tim Draper, the American venture capitalist and bitcoin bull, has come out in opposition to India’s citizenship law.
Protests have been raging across major Indian cities around a recent amendment to the country’s citizenship law, which critics say is discriminatory on the basis of religion, AMBCrypto reported.
In a December 19 tweet, Draper stated that he was reconsidering his plans to fund businesses in the country because of its alleged stance on “choosing one religion over another.”
According to PRSLegislative, a tracker for the Indian Parliament, the 2019 bill “seeks to make illegal migrants who are Hindus, Sikhs, Buddhists, Jains, Parsis and Christians from Afghanistan, Bangladesh and Pakistan eligible for citizenship,” but discriminates against Muslims.
The controversy around the act, which was passed on December 11, took the entire country to a tipping point. Initially, the protests were confined to the north-east regions of the country but soon spilled over into major cities like Delhi, Mumbai and Bangalore.
Draper Venture Networks, an “alliance of VC funds,” has major investments in India through Blume Ventures, a VC fund focused on investing in India’s growing start-up network. Headquartered in Bangalore, another flashpoint for the citizenship protests, Blume Ventures has, in its portfolio, popular Indian companies like Mech Mocha, HealthifyME, Dunzo, Unacademy and Railyatri.
https://www.asiatimes.com/2019/12/article/tim-draper-may-pull-out-of-india-over-citizenship-law/
Tim Draper, the American venture capitalist and bitcoin bull, has come out in opposition to India’s citizenship law.
Protests have been raging across major Indian cities around a recent amendment to the country’s citizenship law, which critics say is discriminatory on the basis of religion, AMBCrypto reported.
In a December 19 tweet, Draper stated that he was reconsidering his plans to fund businesses in the country because of its alleged stance on “choosing one religion over another.”
According to PRSLegislative, a tracker for the Indian Parliament, the 2019 bill “seeks to make illegal migrants who are Hindus, Sikhs, Buddhists, Jains, Parsis and Christians from Afghanistan, Bangladesh and Pakistan eligible for citizenship,” but discriminates against Muslims.
The controversy around the act, which was passed on December 11, took the entire country to a tipping point. Initially, the protests were confined to the north-east regions of the country but soon spilled over into major cities like Delhi, Mumbai and Bangalore.
Draper Venture Networks, an “alliance of VC funds,” has major investments in India through Blume Ventures, a VC fund focused on investing in India’s growing start-up network. Headquartered in Bangalore, another flashpoint for the citizenship protests, Blume Ventures has, in its portfolio, popular Indian companies like Mech Mocha, HealthifyME, Dunzo, Unacademy and Railyatri.
https://www.asiatimes.com/2019/12/article/tim-draper-may-pull-out-of-india-over-citizenship-law/
