Kerala Govt to set up Rs.250-Cr VC fund

The Kerala government has approved the setting up of an INR 250 crore venture capital fund to invest in startups in the state. The funds will be mobilised via a jointly sponsored trust of Kerala State Financial Enterprises along with other financial arms of the state government. Kerala is home to more than 3,100 technology startups and 40 incubators. The state-based startups claim to have bagged more than INR 2,000 crore in equity investments.