An expert committee Venture Capital Investment Committee (VCIC) set up by SIDBI has sanctioned Rs 300 crore to fund managers who would invest in startups, taking the total sanctions so far this fiscal 2016-2017 to over Rs 1,100 crore.
During fiscal year 2014-15 and 2015-16 sanctions were made to 11 funds (Rs 314 crores) and 16 funds (Rs 607 crores) respectively while the number during the current financial year (2017) has already crossed Rs 1,112 crores to 30 funds.
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Source- The Hindu