KSUM sets May 10 as the deadline to give proposals to partner with the Fund of Funds scheme
By Pinkerala News Desk | Apr 30, 2022
Fund of Funds to finance startups to scale up
Thiruvananthapuram, Apr. 29: Kerala Startup Mission (KSUM) has set the deadline for receiving proposals from SEBI-accredited funds to become partners in the Fund of Funds scheme, set up by the Kerala Government to financially support startup ventures, to May 10.
The request for proposal (RFP) aims to consider proposals from interested bidders for receiving a corpus fund from the government which will be channelized to emerging startups in the state through venture investments. According to the RFP, the government will be a limited partner in these funds.
The Fund of Funds scheme is for helping startups obtain investments and attracting venture capital funds to the state. Currently, the government is partnering with four funds under this scheme. Around Rs 750 crore worth of corpus funds have been made available for startup ventures in the state through these four funds.
Moreover, investments of over Rs 75 crore have been received by various start-ups through this scheme.
More details about the scheme can be obtained by visiting https://www.etenders.kerala.gov.in/ Tender ID: 2022_T TBI_471602_1.
KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.
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