With the current global environment for fundraising and the startup industry facing some challenging times, the fund management industry is getting tested on both ends of the spectrum.
Under the Fund of Fund for Startuos, capital is provided to SEBI-registered AIFs, known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments
Of the committed Rs 7,980 crore to 99 Alternative Investment Funds (AIFs) under the Fund of Funds Scheme, Rs 3,400 crore has been disbursed to 72 of them as of December, which has in turn made investments of Rs 14,077 crore in 791 startups, the Parliament was told today.
As many as 50,000 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) to date, an official statement said on Thursday.