254 start-ups get the spotlight; receive an investment of Rs 1,700 crore from Alternative Investment Funds

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New Delhi: Investors are showing interest to invest in startups in India. Commerce Minister Piyush Goyal informed Lok Sabha on July 24 that around 254 start-ups have received over Rs 1,700 crore investment from SEBI registered Alternative Investment Funds (AIF). He also said intending to boost start-ups, the central government has also set up the Fund of Funds for Start-ups (FFS) with the corpus of Rs 10,000 crore.

The Department for Promotion of Industry and Internal Trade is the monitoring agency, and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS, Goyal said.

Based on the headway of the scheme and availability of funds, the total corpus of Rs 10,000 crore is anticipated to be provided over the 14th and 15th Finance Commission cycles.

As on July 10, 2019, SIDBI has devoted Rs 3123.20 crore to 47 AIFs. Goyal said that funds have raised a corpus fund of Rs 25,728 crore.

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