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  Business   In Other News  12 Dec 2019  FoF infuses Rs 700 crore in startup cos

FoF infuses Rs 700 crore in startup cos

THE ASIAN AGE. | SANGEETHA G
Published : Dec 12, 2019, 1:28 am IST
Updated : Dec 12, 2019, 1:28 am IST

Till November, SIDBI has committed `3,123.20 crore to 47 Sebi registered AIFs.

Fund of Funds for Start-ups set up the government has provided around Rs 700 crore to Sebi registered Alternative Investment Funds, which in turn invests in start-ups.
 Fund of Funds for Start-ups set up the government has provided around Rs 700 crore to Sebi registered Alternative Investment Funds, which in turn invests in start-ups.

Chennai: Fund of Funds for Start-ups set up the government has provided around Rs 700 crore to Sebi registered Alternative Investment Funds, which in turn invests in start-ups.

Department for promotion of industry and internal trade (DPIIT) had established Fund of Funds for Start-ups in June 2016 with a corpus of `10,000 crore to boost the startup ecosystem. These Fund of Funds (FoF) managed by SIDBI provide capital to Sebi-registered Alternate Investment Funds (AIFs), which in turn invest money in growing Indian startups through equity and equity-linked instruments.

Till November, SIDBI has committed `3,123.20 crore to 47 Sebi registered AIFs. These AIFs have raised a corpus fund of `25,728 crore, of which `696 crore have been drawn from the FoFs for Startups. These AIFs have invested `2,669.83 crore into 279 startups.

Tags: sebi, fund of funds