254 startups get Rs 1,700 cr from AIF

New Delhi: As many as 254 startups have received investment to the tune of over Rs 1,700 crore from the SEBI-registered Alternative Investment Funds (AIF) and the central government has also set up a Fund of Funds for Startups (FFS) with corpus of Rs 10,000 crore, Commerce Minister Piyush Goyal said on Wednesday.

Goyal said in Lok Sabha that the FFS with corpus of Rs 10,000 crore will meet the funding needs of startups. He said the Department for Promotion of Industry and Internal Trade is the monitoring agency and Small Industries Development Bank of India is the operating agency for FFS.