SIDBI Bets Big On Start Ups;Commits Rs 2211 Cr

16 January, New Delhi

Industrial bank SIDBI has said in order to build up start up ecosystem in India, it supported 88 venture capital funds with an commitment of Rs 2,211 crores.SIDBI is thus very active in supporting and promoting the entire start up eco system for making it more healthy, robust and strong, which is very crucial in fuelling India’s economic growth trajectory,” Dr Kshatrapati Shivaji, CMD, SIDBI said.

India’s startup ecosystem is one of the fastest growing in the world with the third largest base with more than 4,200 start ups (next only to UK and US).

Shivaji said as a part of this exercise, SIDBI is also in the process of providing a collaborative engagement web based platform which will not only provide single window availability of information but also enable digitised flow of information across all the stake-holders in the eco-system viz. angel networks, incubation centres, venture funds, mentors and industry bodies.

Venture Funds promoted by the SIDBI have invested in 612 enterprises with an equity support of Rs 9,600 crore, of which Rs 4339 crore were invested in 531 MSMEs.

Some of the early stage venture funds supported by SIDBI are – Blume Ventures, YourNest Angel Fund, Infuse Capital, India Quotient, India Innovation Fund, Ventureast Tenet Fund, India Science Venture Fund of CSIR etc. In addition, the bank has also supported social venture funds such as Samriddhi Fund and Ankur Capital. Some of the ventures invested by these venture capital funds are – Aujas Networks, Vortex, Little Eye Labs, Skymet, Mitra Biotech etc.