Startup fund to get Rs 3,000 crore financing boost - ET Retail
14 March 2019 12:33 AM GMT
Rs 16,680-crore funding commitments secured from long-term partners likely to accelerate fund deployment.
- India's flagship startup fund is set to get into high gear after a slow start with Rs 3,000 crore in financing lined up, said people with knowledge of the matter.
- Apart from this, funding commitments from long-term partners are being secured to the tune of Rs 16,680 crore, which can help accelerate deployment to startups.
- “Disbursements have taken off,” said an official with knowledge of the fund’s activity.
- Fostering startups was identified by the government as a key focus area and it has taken several steps in this regard.
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