Monday, Aug 10, 2020 | Last Update : 11:02 AM IST

139th Day Of Lockdown

Maharashtra51533235171017757 Tamil Nadu2969012386384927 Andhra Pradesh2278601387122036 Karnataka178087939083198 Delhi1454271305874111 Uttar Pradesh122609726502069 West Bengal95554671202059 Bihar7972051315429 Telangana7949555999627 Gujarat71064542382652 Assam5883842326145 Rajasthan5249738235789 Odisha4592731785321 Haryana4163534781483 Madhya Pradesh3902529020996 Kerala3433121832109 Jammu and Kashmir2489717003472 Punjab2390315319586 Jharkhand185168998177 Chhatisgarh12148880996 Uttarakhand96326134125 Goa871259575 Tripura6161417641 Puducherry5382320187 Manipur3752204411 Himachal Pradesh3371218114 Nagaland27819048 Arunachal Pradesh215514823 Chandigarh151590425 Meghalaya10624906 Sikkim8664971 Mizoram6082980
  Business   Companies  24 Jul 2019  254 startups get Rs 1,700 cr investment from Alternative Investment Funds

254 startups get Rs 1,700 cr investment from Alternative Investment Funds

PTI
Published : Jul 24, 2019, 2:44 pm IST
Updated : Jul 24, 2019, 2:44 pm IST

Commerce Minister Piyush Goyal said these funds have raised a corpus fund of Rs 25,728 crore.

Goyal said in Lok Sabha that the FFS with corpus of Rs 10,000 crore will meet the funding needs of startups. (Photo: Representational)
 Goyal said in Lok Sabha that the FFS with corpus of Rs 10,000 crore will meet the funding needs of startups. (Photo: Representational)

New Delhi: As many as 254 startups have received investment to the tune of over Rs 1,700 crore from the (AIF) and the central government has also set up a Fund of Funds for Startups (FFS) with corpus of Rs 10,000 crore, Commerce Minister Piyush Goyal said on Wednesday.

Goyal said in Lok Sabha that the FFS with corpus of Rs 10,000 crore will meet the funding needs of startups.

 

He said the Department for Promotion of Industry and Internal Trade is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS.

"The total corpus of Rs 10,000 crore is envisaged to be provided over the 14th and 15th Finance Commission cycles based on progress of the scheme and availability of funds. As on July 10, 2019, the SIDBI has committed Rs 3123.20 crore to 47 SEBI registered Alternative Investment Funds (AIFs)," he said.

The minister said these funds have raised a corpus fund of Rs 25,728 crore.

"Further, the AIFs have invested a total of Rs 1,701.03 crore into 254 startups out of which Rs 512.57 crore have been drawn from Fund of Funds for Startups," he said.

 

Tags: startups, sebi, alternative investment funds, small industries development bank of india, sidbi, fund of funds for startups, piyush goyal
Location: India, Delhi, New Delhi