Agency, New Delhi.
Published by: Jeet Kumar
Updated Sun, 20 Feb 2022 01:47 AM IST
Summary
The new equity fund will be used to finance startups especially in the climate activity, deep tech, digital economy, pharma and agri tech sectors.
The central government will create a new equity fund for start-ups with a limited stake of 20 per cent to provide additional capital support to entrepreneurs. Union Minister of State for Electronics and IT Rajiv Chandrashekhar said on Saturday that this fund created by the Central Government will be managed by private fund managers.
In a CII program, Chandrashekhar said, Finance Minister Nirmala Sitharaman has already made an announcement in this regard. This fund will create additional private equity capital for startups from the existing fund. This fund will be used to provide financial assistance to startups especially in the climate activity, deep tech, digital economy, pharma and agri tech sectors.
The government has already started funds like Startup India Seed Fund Scheme. Of these, Rs 945 crore has been given for startups. Some states like Karnataka, Uttar Pradesh, Bihar, Gujarat and Rajasthan have also started such funds.
Expansion
The central government will create a new equity fund for start-ups with a limited stake of 20 per cent to provide additional capital support to entrepreneurs. Union Minister of State for Electronics and IT Rajiv Chandrashekhar said on Saturday that this fund created by the Central Government will be managed by private fund managers.
In a CII program, Chandrashekhar said, Finance Minister Nirmala Sitharaman has already made an announcement in this regard. This fund will create additional private equity capital for startups from the existing fund. This fund will be used to provide financial assistance to startups especially in the climate activity, deep tech, digital economy, pharma and agri tech sectors.
The government has already started funds like Startup India Seed Fund Scheme. Of these, Rs 945 crore has been given for startups. Some states like Karnataka, Uttar Pradesh, Bihar, Gujarat and Rajasthan have also started such funds.