Rs 1,700 crore poured into 254 startups by SEBI’s alternative investment funds

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Published: July 24, 2019 5:42:32 PM

SIDBI has committed Rs 3123.20 crore as on July 10, 2019, to 47 AIFs registered with SEBI, Piyush Goyal said adding that the funds have raised a corpus fund of Rs 25,728 crore.

Brookfield, reliance jio, Reliance Industries, BIF IV Jarvis India, Tower Infrastructure Trust, RJIPLRs 512.57 crore out of Rs 1,701.03 crore have been drawn from FFS.

Securities and Exchange Board of India (SEBI) registered alternative investment funds (AIF) have invested Rs 1,701.03 crore in 254 startups even as the government has set up Rs 10,000-crore Fund of Funds for Startups (FFS), PTI reported, citing Commerce Minister Piyush Goyal who added that the capital need of startups would be catered by the FFS for which the Department for Promotion of Industry and Internal Trade (DPIIT) is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency.

SIDBI has committed Rs 3123.20 crore as on July 10, 2019, to 47 AIFs registered with SEBI, Piyush Goyal said adding that the funds have raised a corpus fund of Rs 25,728 crore. Moreover, Rs 512.57 crore out of Rs 1,701.03 crore has been drawn from FFS.

DPIIT had earlier this month informed that 251 startups funded under FFS created 11,698 jobs, averaging to around 45 jobs per startup. 9,335 jobs were occupied by men while women were on 2,363 jobs, DPIIT had tweeted on July 13 referring to the review meeting of the progress of Fund of Funds by DPIIT secretary Ramesh Abhishek.

The funded startups are majorly — 17.29 per cent belong to IT and ITeS and consumer sectors followed by 12.03 per cent in financial services, 11.28 per cent in healthcare, 7.14 per cent in media, 6.02 per cent in logistics, 5.26 per cent in food and beverages, 4.14 per cent in education, 3.38 per cent in foreign investment etc. Region-wise, four southern states and Telangana had a maximum density in terms of number and amount of investments in startups — 101 and Rs 622.23 crore. Rajasthan, NCR, Punjab, Haryana, UP, Uttarakhand saw 71 investments worth Rs 472.04 crore followed by 69 investments in Maharashtra and Gujarat totalling Rs 477.26 crore. Madhya Pradesh and West Bengal received two investments worth Rs 53.85 crore.

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