Startup Indian Action Plans Clears the way to access the Government Fund corpus of Rs 10,000 Crore for Startups to be utilized over a period of 4 years. To start with Government will set up a fund with an initial corpus of
Rs 2,500 crore and a total corpus of Rs 10,000 crore over a period 4 years (i.e. Rs 2,500 crore per
year) . The Fund will be in the nature of Fund of Funds, which means that it will not invest directly into
Startups, but shall participate in the capital of SEBI registered Venture Funds.
Key features of the Fund of Funds are highlighted below:
- The Fund of Funds shall be managed by a Board with private professionals drawn from industry bodies, academia, and successful Startups
- Life Insurance Corporation (LIC) shall be a co-investor in the Fund of Funds
- The Fund of Funds shall contribute to a maximum of 50% of the stated daughter fund size. In order to be able to receive the contribution, the daughter fund should have already raised the balance 50% or more of the stated fund size as the case maybe. The Fund of Funds shall have representation on the governance structure/ board of the venture fund based on the contribution made.
- The Fund shall ensure support to a broad mix of sectors such as manufacturing, agriculture, health, education, etc.
Munim.in, an online marketplace for accessing Company Registration, Trademark Registration, Service Tax Registration and other allied professional services, presents the list of SEBI Registered Venture Capitalist from where these funds can be accessed.
You may visit here for complete list.
For further communication or query, please visit www,munim.in or write to us at contact@munim.in
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