SIDBI Venture Capital Ltd has been selected as the fund manager for the ₹1,000 crore Venture Capital Fund set up by the Central government for the Indian Space Sector, Indian National Space Promotion and Authorisation Centre (IN-SPACe), the nodal agency responsible for promotion, authorisation and regulation of private space sector entities has said.
The VC Fund will be deployed strategically over five years, supporting start-ups in various stages of growth. The annual investment range is projected to be between ₹150 crore and ₹250 crore, depending on the industry’s needs and growth opportunities.
The VC fund is expected to encourage additional funding for later-stage development, instilling market confidence and providing early-stage financial support critical for the growth of space start-ups. It is also meant to help Indian space start-ups retain talent and discourage them from relocating abroad due to better financial opportunities.
Approving the fund in October 2024, Union Cabinet said the investment in innovation will help advance space technology, supporting the development of sophisticated solutions for both domestic and international markets. Boosting global competitiveness of Indian companies, support self-reliance in space sector, and creating a vibrant innovation ecosystem were identified as the objectives of the Fund.
