Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, Dr. Jitendra Singh, on Wednesday said that India’s dedicated venture capital fund for the space sector is progressing steadily, with investments in selected startups expected to begin in the first quarter of FY2027.
In a written reply to an unstarred question in the Lok Sabha during the ongoing Budget Session of Parliament, the Minister stated that the “Antariksh Venture Capital Fund” has been operationalised, with key institutional mechanisms now in place.
The query, raised by Shri Bastipati Nagaraju, sought details on the status, investments, beneficiaries, returns, and employment generation linked to the fund.
According to the Minister, the fund is being managed by SIDBI Venture Capital Limited (SVCL). It received registration from the Securities and Exchange Board of India (SEBI) on October 31, 2025, and achieved its initial closing on November 10, 2025, with a committed corpus of ₹1,005 crore.
Post-registration formalities have been completed, including the appointment of a custodian, registration with depositories for issuing Alternative Investment Fund (AIF) units, and the constitution of screening and investment committees.
The Minister informed that evaluation of spacetech startups is currently underway. Four proposals have reached an advanced stage after securing Pre-Investment Committee approval.
He noted that, given the early-stage nature of India’s spacetech ecosystem, several startups require structured support to meet institutional investment requirements. Assistance is being provided to help startups improve documentation, streamline data, and complete due diligence processes.
The first round of funding approvals and disbursements is expected after completion of appraisal and third-party due diligence, likely in early FY2027.
The initiative is aimed at strengthening private sector participation and supporting innovation in India’s space sector.
Leave a Reply