Nilaya Varma, Co-founder & CEO, Primus Partners, shares his view on the establishment of a dedicated Fund of Funds for deeptech startups. He highlights that this initiative is a significant step in fostering innovation in sectors requiring extensive R&D and long-term investment.
Under FFS, the scheme does not directly invest in startups; instead, it provides capital to SEBI-registered AIFs, known as daughter funds, which, in turn, invest in growing Indian startups through equity and equity-linked instruments. SIDBI has been mandated to operate this fund by selecting suitable daughter funds and overseeing the disbursal of committed capital. AIFs supported under FFS must invest at least twice the amount committed under the scheme in startups.
The finance minister also announced a Rs 20,000 crore investment to drive private sector-led research, development, and innovation, a move expected to be a game changer for India's deeptech sector.
- Did Your Developer Charge You On The Basis Of Super Built-up Area
- Web3 to power India’s economic growth, expected to drive 27% of India’s incremental GDP by 2032: Study
- A brainstorming session held on theme of Emerging and Future e-Governance Initiatives, e- Commerce Initiatives, and Emerging Technologies
- India’s Seaweed Sector Could Surge to ₹3,277 Crore Within the Next 10 Years: Report