#Fundlaunch is your quick summary of notable fund launches for startups. This segment includes announcements on funds launched by Razer, Department of Science and Technology, Bihar Government, RGPV and Reliance Industries
Razer Launches $30M Venture Fund zVentures
Gaming hardware maker, Razer, has announced the launch of a $30 million venture fund – zVentures. The new fund will invest in early stage companies in the areas of IoT, Analytics, Gaming, VR, AR and Robotics.
The new corporate fund has offices in Singapore and San Francisco, and will make investments globally. Besides capital, it will be helping startups through mentorship and access to their network of suppliers and OEMs, customers and investors, and other stakeholders. Read More
Department of Science and Technology Sets Up Rs 500 Cr Fund
Department of Science and Technology(DST) has earmarked Rs 500 crore to support startups in the country. Under the programme, selected ventures will receive a seed funding of up to Rs 10 lakh to develop a prototype, and access makerspaces in incubators.
This announcement comes days after the launch of Rs 100 crore National Initiative for Developing and Harnessing Innovations (NIDHI) programme by DST. The new fund is a part of the same scheme. Read More
Bihar Government Launches Rs 5000 Cr VC Fund
In order to promote entrepreneurship in the state, Bihar State Government has formulated a startup policy, and has announced the launch of a Rs 5,000 crore venture fund. 22% of the venture fund has been reserved for entrepreneurs from scheduled caste (SC) and scheduled tribe (ST). Read More
RGPV Forms Rs 20 Cr Fund for Student Entrepreneurs
Gandhinagar, MP-based Technological University, Rajiv Gandhi Proudyogiki Vishwavidyalaya (RGPV) has formed a fund of Rs 20 crore to promote entrepreneurship among students. The academic body aims to boost entrepreneurship and innovation on its own campus as well. Read More
Reliance Jio Sets Aside Rs 5000 Cr to Invest in Tech Startups
Earlier this month, alongside Reliance Jio public launch, Reliance Industries chairman Mukesh Ambani announced that the company is setting up a Rs 5000 crore fund for Indian startups. The firm plans to invest this corpus in digital companies over a period of the next 5 years. Read More