India: 17 venture capital firms sanctioned $96.5m from govt startup fund

Photo: Mint

Since its launch in January 2016, the government’s Rs10,000 crore Fund-of-Funds for start-ups has faced a few too many brickbats.

Up until last month, the conditions for raising capital from the Rs10,000 crore Fund-of-Funds, which was meant to invest in local venture capital (VC) funds that would, in turn, back early-stage companies, were seen to be far too restrictive and discouraged investors.

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