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SIDBI partners with Bihar Startup Fund Trust partners to enhancing startup ecosystem in Bihar
IndianStartupNews
·
1y ago
Medial
The Bihar Startup Fund Trust has partnered with the Small Industries Development Bank of India (SIDBI) to administer the Bihar Startup Scale-up Financing Fund (BSSFF). This partnership aims to create a nurturing environment for startups in Bihar and transform the state into a vibrant startup hub. The BSSFF, managed by SIDBI, will adopt a fund-of-funds model to provide funding support to startups by investing in SEBI-registered Alternative Investment Funds. SIDBI has played a crucial role in shaping the startup ecosystem in India and has experience in managing funds focused on various sectors and state-specific funds.
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SIDBI To Manage Bihar Government’s INR 50 Cr Fund For Startups
Inc42
·
1y ago
Medial
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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Chiratae Ventures taps new limited partner for its fifth flagship fund
VCCircle
·
6m ago
Medial
Chiratae Ventures, a venture capital firm known for supporting unicorns like Lenskart, Uniphore, and FirstCry, has secured a new limited partner for its fifth flagship fund. The Bengaluru-based firm, which recently ventured into growth-stage investing with a Rs 1,001-crore fund raised in 2023, includes government-backed Self-Reliant India Fund among its partners. Chiratae continues to build on its successful investments across various sectors, enhancing its presence and contributions to the Indian startup ecosystem.
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New Rs 10,000-crore fund to boost startup ecosystem
Economic Times
·
3m ago
Medial
The government has injected an additional Rs 10,000 crore into the Startup India Fund of Funds to enhance the startup ecosystem. By allowing reinvestment of alternate investment funds (AIFs), it aims for quicker exits, increased liquidity, and reinvestment potential. The fund supports SEBI-registered AIFs to bolster high-potential startups, with a focus on capital availability, private investment, and growth in tier-2 and tier-3 cities. As of September 2024, SIDBI supported 1,120 startups with Rs 19,992 crore investment.
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Former JSW Sports CEO launches ₹350 cr sports tech, gaming fund
Livemint
·
1y ago
Medial
Former CEO of JSW Sports, Mustafa Ghouse, and former investment director of TVS Capital and Sabre Partners, Alok Samtaney, have established a sports tech and gaming fund called Centre Court Capital (CCC). The fund, worth ₹350 crore, already has ₹200 crore pledged by investors including the Sajjan Jindal Family Trust. Other investors include Sidbi, PremjiInvest, GMR Sports, and SG Sports. CCC will focus on early-stage opportunities in the sports tech space, with plans to raise capital from international investors through an offshore feeder fund in Gift City. India's gaming sector, with 396 million gamers, is expected to grow at a CAGR of 21% over the next five years.
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Bihar Govt Conducts Product Launch Event Start-Up Spark 2.0
OutlookIndia
·
15d ago
Medial
The Bihar government's Department of Industries, in collaboration with B.HUB BSFC and IIT Patna's Incubation Centre, organized the Startup Spark 2.0 event. This initiative aligns with the Bihar Start-up Policy 2022 and provides startups with seed funding, coworking spaces, and mentorship. The event showcased innovative products ready for market introduction, offering startups exposure to investors and mentors. State officials emphasized supporting the entrepreneurial ecosystem, aiming to transform Bihar into a hub of innovation and entrepreneurship.
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Indian startups no longer need yearly fund allocation, not many have lost unicorn status: Piyush Goyal | Company Business News
Livemint
·
6m ago
Medial
Union Minister Piyush Goyal stated that Indian startups no longer require annual fund allocations, as SIDBI has begun receiving returns, boosting its fund corpus. Despite some startups losing unicorn status due to global financial issues, Goyal emphasized that the government doesn’t influence company valuations. The removal of the angel tax has been praised by startups. With over 1.5 lakh startups, India holds the world’s third-largest startup ecosystem and is favored for deep tech investment.
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Colossa Ventures announces first close of its maiden fund Colossa WomenFirst Fund at Rs 100 crore
IndianStartupNews
·
1y ago
Medial
Colossa Ventures has announced the first close of its maiden fund, Colossa WomenFirst Fund, at Rs 100 crore. The fund aims to support businesses founded or co-founded by women or those that primarily benefit women. It plans to invest in early-stage startups across sectors such as healthcare, fintech, clean technology, and consumer products. The fund has attracted diverse investors, including SIDBI and family offices. Colossa Ventures aims to empower women entrepreneurs and make a significant impact on the startup ecosystem.
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IIM Bangalore incubator floats accelerator fund for deep-tech startups
VCCircle
·
1y ago
Medial
The Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the startup incubator of IIM Bangalore, has partnered with Small Industries Development Bank of India (SIDBI) to launch a deeptech-focused pre-seed startup accelerator fund. The corpus of the fund has not been disclosed. NSRCEL aims to support and invest in deeptech and emerging ventures, expanding its role beyond just supporting startups. SIDBI manages a Rs 10,000 crore fund-of-funds for startups and has previously backed VC firms like Blume Ventures and Chiratae Ventures.
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Agri-fintech startup KiVi raises Rs 15Cr led by Caspian Leap for Agriculture Fund, others
IndianStartupNews
·
1y ago
Medial
Agri-fintech startup KiVi has secured Rs 15 crore in a funding round led by Caspian Leap for Agriculture Fund, among other investors. KiVi aims to boost agriculture as a livelihood of choice by providing credit, commerce, and distribution to the farmgate ecosystem. The startup, based at IIT Madras Research Park, operates in Tamil Nadu and Bihar, partnering with lending institutions and corporate buyers. The funds raised will be used to expand its technology platform, establish a wider presence, enhance risk capabilities, and obtain an NBFC license.
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Odisha govt launches ₹100 crore startup fund
Inshorts
·
1y ago
Medial
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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