The Self Reliant India (SRI) fund has committed to deploy Rs 5,000 crore, almost 50 per cent of its total corpus, in 38 private equity (PE) and venture capital (VC) firms.
- Each fund will get an average of Rs 100-150 crore, however its deployment will happen over time as the PE funds have an investment period of 5-6 years so they will apply for the SRI fund as and when they find suitable companies to invest in.
About Self Reliant India (SRI) fund
- The SRI fund has been launched by the government of India to provide growth capital to MSMEs,
- SRI fund is a SEBI-registered category-II Alternative Investment Fund (AIF).
- It operates through the mother-fund and daughter-fund structure wherein SRI fund, as a mother fund, invests up to 20 per cent of the overall corpus of daughter fund (mostly VC and PE funds) and the latter raises the balance 80 per cent of the capital from outside sources.
- SBICAP Ventures, owned by the State Bank of India Group, is the investment manager of the fund.
