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The union cabinet has approved setting up a venture capital fund with a corpus of INR 1,000 Cr under the Indian National Space Promotion and Authorization Centre (IN-SPACe).
The fund was announced by finance minister Nirmala Sitharaman during her budget speech in July this year.
In a statement, the government said that the funds will be deployed over a period of five years. “The average deployment amount could be INR 150-250 Cr per year, depending on the investment opportunities and fund requirements,” the statement said.
The Centre has assigned FY26 to FY30 as the years for the funds deployment.
The average investment would be in the range of INR 10 Cr to INR 60 Cr, depending on factors like stage of the company, growth trajectory, and potential impact on the national space arena.
Growth stage companies would get equity investment of about INR 10 Cr to INR 30 Cr from the fund, while late growth stage companies will get investments between INR 30 Cr to INR 60 Cr.
(The story will be updated soon.)
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