Kerala Startup Mission (KSUM) has invited 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.
“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,” the statement said.
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 crores worth of corpus funds has 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.
