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Odisha govt launches ₹100 crore startup fund

Inshorts · 1y ago

Odisha govt launches ₹100 crore startup fund

The Government of Odisha has launched the Odisha Startup Growth Fund, worth Rs 100 Crore, in collaboration with Small Industries Development Bank of India (SIDBI). The fund aims to support startups in Odisha by investing through Alternative Investment Funds (AIF) over a period of five years. SIDBI will manage the fund and shape its investment strategy. The fund is intended to provide co-investment assistance and prioritize equity or quasi-equity investments. The initiative aims to boost the MSME sector and contribute to India's GDP and employment generation.

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GetVantage launches Rs 100Cr 'Rise-Up Fund' for women entrepreneurs

IndianStartupNews

IndianStartupNews · 1y ago

GetVantage launches Rs 100Cr 'Rise-Up Fund' for women entrepreneurs

Fintech startup GetVantage has launched the 'Rise-Up Fund' to support women entrepreneurs in India. The fund, worth INR 100 crore ($13.6m), will be provided to over 400 women-led businesses through non-dilutive financing. GetVantage has partnered with network Encubay to increase its impact and offer fair and inclusive access to funding for female founders. The initiative aims to bridge the funding gap faced by women-led businesses, which make up just 18% of India's startup ecosystem.

Hyderabad Angels Fund launches Rs 150 Cr VC fund

Inshorts · 1y ago

Hyderabad Angels Fund launches Rs 150 Cr VC fund

Hyderabad Angels Fund has launched its inaugural venture capital fund, classified as a Category 1 AIF, with an initial investment pool of Rs 100 crore along with an optional additional greenshoe of Rs 50 crore. The fund will be tailored for tech and AI-driven startups prioritising scalability. It aims to invest up to Rs 5 crore each in 20 startups.

Campus Fund launches $100 million third fund

Economic Times

Economic Times · 2m ago

Campus Fund launches $100 million third fund

Campus Fund has launched its third and largest fund of $100 million to invest in student-led startups, with an initial close of over $50 million. The fund will support 60–80 startups over four years, offering initial investments between Rs 21 crore and Rs 28 crore. Supported by family offices, entrepreneurs, and financial institutions, Campus Fund aims to empower student founders in various sectors, marking its presence since its first fund launch in July 2020.

TechnoSport to invest Rs 100 crore to set up state-of-the-art activewear manufacturing facility in Odisha

IndianStartupNews

IndianStartupNews · 29d ago

TechnoSport to invest Rs 100 crore to set up state-of-the-art activewear manufacturing facility in Odisha

TechnoSport has partnered with the Government of Odisha to invest Rs 100 crore in establishing an activewear manufacturing facility as per their MoU at Odisha-Tex 2025. This initiative will create over 1,000 jobs and contribute to Odisha's industrial growth and development. Located in a modern industrial estate, the facility will boost exports exceeding $100 million and RPG revenues. With a focus on women workers, it will feature a smart factory using renewable energy and recycling fabric waste.

IVY Growth launches Rs 250 Cr Arigato Capital fund

Entrackr

Entrackr · 1y ago

IVY Growth launches Rs 250 Cr Arigato Capital fund

Micro venture capital firm IVY Growth Associates has announced the launch of Arigato Capital, a SEBI-registered Category I AIF Venture Capital (VC) fund, with a target corpus of Rs 250 crore. This sector-agnostic fund is set to invest in startups across a variety of sectors, including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies, the fund said in a press release. Arigato Capital aims to begin raising capital in June 2024, with plans to close all commitments over the next 15 to 18 months. The Venture Capital (VC) fund targets a first close at Rs 100 crore and will focus on startups beyond the seed stage or in pre-series A stages, offering an average ticket size of $500,000. Founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, IVY Growth Associates claims to have invested in over 100 growth-stage startups. The firm has deployed Rs 20 crore from its fund and utilized more than Rs 80 crore from syndicate funds within its network. IVY’s portfolio includes notable brands such as Rupeek, BluSmart, and Zappfresh. In addition to launching Arigato Capital, IVY Growth Associates will host the third edition of its startup summit, 21 BY 72, from June 15 to June 16 in Surat. The summit is expected to attract over 20,000 participants, including more than 200 startup founders, 200 venture capitalists, and over 500 investors.

Zippee backer ThinKuvate elevates exec to managing partner role

VCCircle

VCCircle · 2m ago

Zippee backer ThinKuvate elevates exec to managing partner role

ThinKuvate, a Singapore-based early-stage startup investment platform, has promoted an executive to managing partner as it raises its first India fund targeting Rs 100 crore. The ThinKuvate India Fund-I had an initial close at Rs 25 crore in September.

Odisha Is Well-Poised To Foster 5,000+ Startups By 2025: Startup Odisha Chief Dr Omkar Rai

Inc42 · 1y ago

Odisha Is Well-Poised To Foster 5,000+ Startups By 2025: Startup Odisha Chief Dr Omkar Rai

Odisha aims to nurture over 5,000 startups by 2025, and to achieve this, Chief Minister Naveen Patnaik has launched the Odisha Startup Yatra 2023 and Startup Express 2023 initiatives. The state plans to organise van camps, boot camps, and acceleration programs to generate unique startup ideas and provide grants and incentives to founders. Odisha has been recognized as a top performer in the Indian startup ecosystem, with over 1,700 startups registered in the state. Dr. Omkar Rai, Executive Chairman of Startup Odisha, shares insights into the state's plans to become a premier startup hub.

Startup Odisha begins flagship initiatives Startup Yatra and Startup Xpress 2023

IndianStartupNews

IndianStartupNews · 1y ago

Startup Odisha begins flagship initiatives Startup Yatra and Startup Xpress 2023

Startup Odisha, an initiative of the MSME Department, Government of Odisha, has launched the Odisha Startup Yatra and Startup Express 2023 to promote innovation and entrepreneurship among young individuals. The initiative will involve collaborations with over 200 colleges and 60 schools in all 30 districts of Odisha. Activities include Van Camps and Boot Camps to scout innovative ideas, with the aim of generating over 3,500 ideas. The top 25 ideas will have the opportunity to receive seed funding to develop their startup ventures.

Welspun One launches Rs 1,000 Cr co-investment programme to expand warehousing portfolio

YourStory

YourStory · 6m ago

Welspun One launches Rs 1,000 Cr co-investment programme to expand warehousing portfolio

Welspun One has launched a Rs 1,000 crore co-investment programme to support its second Alternative Investment Fund (AIF), Fund 2. This initiative targets a 5 million sq ft pipeline, enhancing the company's portfolio to around 22 million sq ft and generating a projected net operating income of Rs 1,100 crore. The programme focuses on new-age warehousing assets driven by increasing demand from evolving supply chain needs. It has already committed 100% of Fund 2 across nine assets.

SIDBI To Manage Bihar Government’s INR 50 Cr Fund For Startups

Inc42 · 1y ago

SIDBI To Manage Bihar Government’s INR 50 Cr Fund For Startups

The Bihar Startup Fund Trust and Small Industries Development Bank of India (SIDBI) have agreed to manage the INR 50 Cr Bihar Startup Scale-up Financing Fund (BSSFF), aiming to transform Bihar into a startup hub. As part of the state's startup policy, the Fund will not directly invest in startups, but will contribute to SEBI-registered Alternative Investment Funds that will make investments. The trust, established with an initial corpus of INR 500 Cr, has allocated INR 50 Cr for scale-up funding support for startups. Last year, the Odisha government also launched a similar fund.

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