Kerala Approves INR 250 Cr Venture Capital Fund To Promote Startups

SUMMARY

The approval was given at a state cabinet meeting chaired by chief minister Pinarayi Vijayan

An amount of INR 1 Cr was also set aside for the initial expenditure related to the formation of the corpus fund

The amount of INR 250 Cr will be mobilised via a jointly sponsored trust of Kerala State Financial Enterprises along with other financial arms of the state government

The Kerala government on Wednesday (June 22) approved setting up of INR 250 Cr venture capital (VC) fund for the growth of startups in the state.

The decision was taken at a state cabinet meeting chaired by chief minister Pinarayi Vijayan. An amount of INR 1 Cr was also set aside for the initial expenditure related to the formation of the corpus fund.