The Citizenship Amendment Act (CAA) was introduced in the parliament by the center. Since then, the Government of India is facing protests and criticism for the act on a global level. In the growing list of opposing leaders, another name that has joined the list is the leading venture capitalist, Tim Draper.
The CAA is a sensitive issue in the country right now. Amid the protests, Tim Draper tweeted that if India is choosing one religion as superior, then he’ll have to reconsider his decision of funding businesses in the country. Tim expressed his concerns saying that freedom is a big thing for him when it comes to conducting business, and his organizations and companies are a network of fairness, openness, and transparency.
Tim Draper and India association
Tim Draper is one of the most successful venture capitalists with his investments in companies like Hotmail, Skype, Tesla, and others. Tim has also invested in several crypto and blockchain startups like Coinbase, Tezos, and Authenteq. His first appearance in the Indian market was when he launched his venture capital firm named Draper Fisher Jurvetson, and it invested approximately $70 million in several startups.
In 2013, Draper sold the company to NewQuest Capital Partners as he believed that the Indian market has a corrupt environment, and his firm was facing problems with the Indian entrepreneurs. With the increased potential of the startup market in India, Draper again made a comeback in 2017 in partnership between Blume Ventures and his Draper Venture Network (DVN).
Draper’s concern and current CAA situation
In 2019, Draper also expressed his concern on the ban of cryptocurrency and said that people would prefer leaving India as the banning actions make it look like a backward country.
Currently, the CAA protests are picking up pace with different stories of people attacking the police and police attacking the students. Many parts of the country are facing peaceful and violent protests, and some cities in the country and parts of Delhi faced internet shutdown.