Fund Of Funds Scheme:
According to a Crisil assessment called Prabhaav, the Fund of Funds for Startups (FFS) scheme has enabled investments to the tune of around 4x of the amount drawn with Rs 17,534 crore invested in 938 startups.
- The Fund of Funds for Startups (FFS) Scheme was approved and established in 2016 with a corpus of Rs 10,000 crore,
- Under FFS, the Scheme does not directly invest in startups, instead provides capital to SEBI-registered AIFs, known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments.
- Small Industries Development Bank of India (SIDBI) has been given the mandate of operating this Fund through selection of suitable daughter funds and overseeing the disbursal of committed capital.
- AIFs supported under FFS are required to invest at least 2 times of the amount committed under FFS in startups.
