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Kerala Plans To Launch A $78 Mn Fund Of Funds Via KSUM To Support Startups

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14.09.2017

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The Kerala government is looking to create a fund of funds for startups. The government is also planning to invite investors to back young companies based in the state. Saji Gopinath, Chief Executive of the Kerala Startup Mission (KSUM), confirmed the same, stating that the government was looking to create a corpus of about $78 Mn (INR 500 Cr) for Kerala-based startups over the next three years.

He said, “Kerala doesn’t have large angel funds or established angel networks, so we are attracting early stage funds to invest in startups in the state.“ Gopinath further added, “While the government doesn’t have the expertise to invest in startups, it is a good idea to invest through (Alternative Investment Fund, or AIF) category early-stage funds.”

Kerala has been one of the early adopters of the Indian startup ecosystem. The Kerala Startup Mission, formerly known as........

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