The Union Cabinet, chaired by PM Narendra Modi, approved the establishment of the “Fund of Funds for Startups” (FFS) by the Small Industries Development Bank of India (SIDBI) in June 2016. This fund was sanctioned for contribution to various Alternative Investment Funds (AIF) registered with the …
Tag: India Aspiration Fund (IAF)
MSME launches ASPIRE fund to promote entrepreneurship in rural areas
The Ministry of Micro, Small and Medium Enterprises (MSME) has launched ASPIRE Fund with a corpus of $8.9 Mn (INR 60 Cr) that aims at the promotion of entrepreneurship in rural India. The fund was launched by Kalraj Mishra, Minister, MSME, India. The funds launched will be administered The Small …
India Aspiration Fund needs to be at par with NIIF
The India Aspiration Fund (IAF), set up to boost the startup ecosystem in the country should be moderated on the lines of NIIF, which funds up to 49 per cent of the capital requirement, head of Bank of Maharashtra said today. “The MSMEs have the equity problem. But a solution has been broug…
MSME bank SIDBI, LIC join to fund the funders
Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC), in the presence of Jayant Sinha, MoS for Finance, for supplementing Government’s efforts under ‘Fund-of-Fund’ operation for the Venture Fund industry. The …