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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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Related News
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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Anicut Secures INR 50 Cr From SIDBI's Fund Of Funds
Inc42
·
1y ago
Medial
Anicut Capital, an alternative investment firm, has received a INR 50 crore investment from the Small Industries Development Bank of India (SIDBI) for its Anicut Equity Fund. Anicut Equity Fund launched its Grand Anicut Fund III in June 2022 with a target corpus of INR 500 crore and an additional INR 250 crore green shoe option. The firm plans to back 12-14 growth-stage startups over the next 18-24 months from the Fund III. Anicut Capital's portfolio includes startups like Wow! Momo, Bira, Sugar Cosmetics, and ShareChat, among others.
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Govt’s Fund Of Funds Invested INR 17,534 Cr In 938 Unique Indian Startups
Startup News FYI
·
1y ago
Medial
The Indian government's fund of funds (FoFs) scheme has invested INR 17,534 Cr in 938 unique Indian startups since its establishment in 2016. Managed by Small Industries Development Bank of India (SIDBI), the FoFs initiative has also spurred nearly four times the amount drawn in investments. The report by CRISIL indicates that the scheme has supported startups in various emerging sectors and backed women-led startups and fund managers. Additionally, 18 startups in the FoFs portfolio have become unicorns. SIDBI is responsible for selecting and providing capital to SEBI-registered alternative investment funds (AIFs) that then invest in startups.
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Fund Of Funds Commits INR 9,500 Cr To Aid Startups: SIDBI Chairman
Inc42
·
1y ago
Medial
The Fund of Funds for Startups (FFS), led by the Small Industries Development Bank of India (SIDBI), has committed INR 9,500 Cr to support new ventures in India. This commitment has resulted in over 100 alternative investment funds (AIFs) raising more than INR 56,000 Cr. The FFS, announced in 2016 under the Startup India initiative, aims to contribute to AIFs registered with SEBI. The fund has already supported startups in sectors such as deeptech, agritech, healthtech, fintech, and sustainability, with 18 of them achieving unicorn status.
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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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Physis Capital gets Rs 150 Cr commitment for Rs 400 Cr venture fund
YourStory
·
8m ago
Medial
Physis Capital has received a commitment of INR 150 crore for its INR 400 crore ($50 million) venture fund, which it plans to invest in 12-15 startups. The fund is split into four buckets, with commitments secured from retail investors and half of the family offices bucket. The final close of the fund is expected by early 2026. Physis Capital has already made two investments, including a recent INR 5 crore investment in CTPL, a company providing admission support to universities. CTPL has been profitable and is expanding into international markets. Physis Capital was founded by the creators of Inflection Point Ventures.
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IN-SPACe appoints Sidbi Venture Capital to manage Rs 1,000 crore spacetech fund
Economic Times
·
3m ago
Medial
The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has appointed Sidbi Venture Capital Limited to manage a Rs 1,000 crore venture capital fund supporting space tech startups in India. Aimed at providing crucial capital, the fund targets 40 startups across the space supply chain over five years. It offers Rs 10-60 crore to startups at different growth stages, with hopes to generate employment, spur R&D, and significantly grow India's space economy within a decade.
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Ex-BharatPe CBO Pratekk Agarwaal’s GrowthCap Ventures To Close Maiden INR 50 Cr Fund In 2 Months
Inc42
·
1y ago
Medial
GrowthCap Ventures, an early-stage venture capital fund led by former BharatPe chief business officer Pratekk Agarwaal, is aiming to close its debut fund at INR 50 crore ($6.7 million) within the next couple of months. Agarwaal said the fund has already secured 50% of its corpus and plans to invest in 10-12 early-stage startups this year. The fund will focus on fintech, software-as-a-service (SaaS), and deep tech sectors. Agarwaal also intends to launch a growth-stage VC fund called "Winners Fund" with a corpus of INR 250 crore ($33.5 million) next year.
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Colossa Ventures Marks First Close Of Women-Focused Fund At $12 Mn
Inc42
·
1y ago
Medial
Mumbai-based venture capital firm Colossa Ventures has closed the first round of funding for its women-focused fund at INR 100 Cr ($12 Mn). The Colossa WomenFirst Fund aims to invest in early-stage and growth-stage startups across sectors such as healthcare, fintech, climate, and consumer. It has received investments from institutions like SIDBI and family offices, and plans to have a total corpus of INR 500 Cr. The fund aims to unlock the potential of the Indian female economy and empower women entrepreneurs. Several other investors have also recently announced funds to support Indian startups.
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SIDBI and UP Startup Fund pledge Rs 40 Cr to Aroa Venture
Entrackr
·
10m ago
Medial
Aroa Venture Partners has received Rs 40 crore ($4.8 million) capital commitment from Small Industries Development Bank of India (SIDBI) under the Government of India’s Fund of Funds for Startups and the Uttar Pradesh Government’s UP Startup Fund schemes. The endorsement from two sovereign schemes reflects that the fund has garnered strong interest from government quarters as well. Aroa Venture has also roped in Sekhar Puli as a general and managing partner. Puli is a veteran entrepreneur who sold REAN Cloud to Hitachi Vantara in 2018. He was also an investor at America’s private equity firm BV Investment Partners. Founded in 2020 by Gaurav Gulati, Aroa Venture Partners invests in early and growth-stage investments across sectors. In its initial days, Aroa Ventures was sponsored by RACo Holding Company —a firm owned by Oyo’s founder Ritesh Agarwal. The investment firm has already deployed Rs 100 crore across 36 startups including CRED, MPL, and Magicpin. The Aroa is a Category-II AIF which claims to have commitments from family offices and institutions exceeding Rs 400 crore ($48 million). It plans to reach its final close by the end of the ongoing fiscal year (March 2025).
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