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SIDBI Fund of Funds for Startups scheme (under Startup India)

Posted 01/04/2023
Description The Government of India formed a fund of INR 10,000 Crores to accelerate the growth of the Indian startup ecosystem. The Fund was set up as a Fund of Funds for Startups (FFS). FFS does not invest in startups directly but provides capital to SEBI-registered Alternate Investment Funds (AIFs), known as daughter funds, which in turn invest money in high-potential Indian startups. SIDBI has been given the mandate of managing the FFS through the selection of daughter funds and overseeing the disbursal of committed capital. Funding is provided to startups across different life cycles.
Provider Type Central Govt / State Govt / Private Sector Central Govt
Provider Name Department for Promotion of Industry and Internal Trade, GoI
Amount 10000 Crores
Grant Conditions & Qualifying Criteria 1. Funds Are Registered As Either Category I Or II Alternative Investment Funds (AIF) With Securities And Exchange Board Of India (SEBI) Or Have Applied For The Same With SEBI. 2. Funds With Corpus Of Less Than Rs 1,000 Crores. 3. Fund`S Investment Strategy To Include Investment In Startups (Startup As Defined As Per The Gazette Notification G.S.R.127(E) Dt. 19/02/2019 Issued By Government Of India And As Amended From Time To Time). 4. Fund To Agree To Invest At Least Twice The Amount Of Contribution Sought From FFS Into Startups. (For Instance, If Contribution Sought Is Rs 100 Crore Under FFS, Fund Should Invest At Least Rs 200 Crore In Startups). 5. Fund Manager / Team Should Have Prior Track Record In Fund Management Or Prior Investment Experience. All The Key Members Of The Fund Should Have CIBIL Score More Than 650 (Key Member Is Defined As Director, Sponsor And Senior Personnel Of The Fund). 6. All The Key Members Should Be Legally Eligible To Be A Director Or In A Managerial Position Under Indian Law (I.E., Not Barred To Be A Director Or In A Managerial Position Under Indian Law).
Focus Sector (Healthcare, Defense, Agriculture, etc.)
Provider Contact Email NA
Provider Website URL https://vcfapplication.sidbi.in/
Type of funding (Grant, Loan or Equity) Grant
Process NA
Tips for Winning NA
Provider Indian State NA
Provider Contact Address
Is Active "Yes"
Other Details