Rs 1,000 crore venture capital fund for space sector

New Delhi: SIDBI Venture Capital Limited has been selected as the fund manager for Rs 1,000 crore venture capital fund announced by the government to support private sector firms in the space technology domain.
The Indian National Space Promotion and Authorisation Centre (IN-SPACe) made the announcement in this regard on Friday.
“M/s SIDBI Venture Capital Limited is selected as the Fund Manager / Investment Manager for the Rs 1,000 crore Venture Capital Fund for the Indian Space Sector,” the IN-SPACe said in a statement.
The fund will deploy the amount earmarked for it over a period of five years, with a planned deployment of Rs 150 crore in the 2025-26 financial year followed by Rs 250 crore each in the next three financial years and Rs 100 crore in 2029–30.