Startup-Focused ‘Fund-Of-Funds’ May Get Capital From Insurance, Pension Funds

The Department for Promotion of Industry and Internal Trade (DPIIT) is in talks with the Insurance Regulatory and Development Authority of India (IRDAI) and Securities and Exchange Board of India (SEBI) to allow State-run insurers and pension funds to invest in government-backed startup-focused fund-of-funds.

“We can ask insurance firms to invest 1% of the overall premiums they receive from the public in a year, or 1% of the investment the public makes in provident funds over a 12-month period, and this can then, maybe, be invested in AIFs that back startups,” a official said.

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