DPIIT discusses ways to promote capital mobilisation for startups with AIFs

The Department for Promotion of Industry and Internal Trade (DPIIT) recently convened with more than 70 alternate investment funds (AIFs) to plan ways to enhance funding for startups, particularly in smaller cities. 

Through the Fund of Funds Scheme (FFS), a Rs 10,000 crore initiative, Sebi-registered AIFs receive support to invest in startups, with commitments surpassing Rs 1 lakh crore.

To date, over Rs 20,000 crore has been allocated by significant players such as Chiratae Ventures and Blume Ventures. 

DPIIT also encouraged corporations to partner with startups to address challenges, emphasizing opportunities for global integration and the positive effects of the abolished angel tax.