How is the govt utilising the ₹10,000 cr fund for startups?
The government has set up a 'fund of funds' of ₹10,000 crore to support innovation-driven startups. The fund, managed by SIDBI, invests in SEBI-registered Alternative Investment Funds which, in turn, invest in startups. The government has released ₹600 crore to SIDBI so far and SIDBI has sanctioned ₹129 crore to various venture funds till date.