May also saw two Indian startups enter the unicorn club. Fintech startup Zeta crossed the $1 billion valuation after raising $250 million in a Series C funding round from Softbank Vision Fund 2, with participation from Sodexo.
Indian insurance companies can now invest in FoF
After the unicorn parade we saw this week, there s more reason to cheer for Indian startups, thanks to the IRDA s move to allow Indian insurance companies to invest in Funds of Funds.
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After the unicorn parade we saw this week, there s more reason to cheer for Indian startups, thanks to the IRDA s move to allow Indian insurance companies to invest in Funds of Funds.
The latest IRDA move will mean greater inflow of domestic capital into the startup ecosystem and comes close on the heels of the recent decision of the government to allow private retirement funds to park certain percentage of their capital in Alternate Investment Funds (AIFs).