Venture Intelligence (TSJ Media Pvt. Ltd.)
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Govt to set up thematic funds in deeptech, agritech and climate action
Finance Minister Nirmala Sitharaman announced the setting up of thematic funds for supporting companies in the ‘sunrise' sectors of deeptech, agritech and climate action. The Government's share in the funding will be limited to 20%. These funds will be managed by private fund managers. Blended finance mixes public capital with market-based funds to essentially mobilise additional commercial funding towards sustainable development. This is expected to be modelled after government backed funds set up by National Investment and Infrastructure Fund and Small Industries Development Bank of India. The FM also proposed the setting up of a fund routed through NABARD (National Bank for Agriculture and Rural Development) under a co-investment model to finance startups in the agritech space.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.