“By supporting startups that build globally competitive technologies, products, and solutions, the Fund will contribute to strengthening India’s economic resilience, boosting manufacturing capabilities, generating high-quality jobs, and positioning India as a global innovation hub,” the government said in a note.
The Startup India FoF 2.0 follows the Fund of Funds for Startups (FFS 1.0), which was launched in 2016 to address funding gaps and catalyse the domestic venture capital market for startups.
“The Startup India Fund of Funds 2.0 follows the strong performance of the Fund of Funds for Startups, which was launched in 2016 to address funding gaps and catalyse the domestic venture capital market for startups,” the government said.
Under the first FoF, the entire corpus of Rs 10,000 crore has been committed to 145 Alternative Investment Funds, who have invested Rs 25,500 crore in more than 1,370 startups across the country in sectors such as agriculture, AI, robotics, automotive, clean tech, consumer goods & services, e-commerce, education, fintech, food & beverages, healthcare, manufacturing, space tech, and biotechnology amongst others.
This fund played a key role in nurturing first-time founders, crowding in private capital, and helping build a strong foundation for India’s venture capital ecosystem.
