Fund of Funds scheme: KSUM sets deadline for proposals

Kerala Startup Mission (KSUM) has fixed the deadline for receiving 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, as May 10.

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, an official statement said here.

According to the RFP, the government will be a limited partner in these funds, it said.

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 crore worth corpus fund has been made available for the startup ventures in the state through these four funds, it said.

Moreover, investments of over Rs 75 crore have been received by various startups through this scheme, the statement added.

KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.