New Delhi : Union Minister of State (Independent Charge) for Science & Technology, Jitendra Singh, on Wednesday said that India’s dedicated venture capital fund for the space sector is progressing steadily, with investments in selected startups likely to commence in the first quarter of FY2027.
In a written reply to an Unstarred Question in the Lok Sabha during the ongoing Budget Session, the Minister informed that the “Antariksh Venture Capital Fund” has been operationalised to support the country’s growing spacetech ecosystem.
The query, raised by Bastipati Nagaraju, sought details on the fund’s status, investments, beneficiaries, and potential impact on employment generation.
Dr. Singh stated that the fund is being managed by SIDBI Venture Capital Limited and has been registered with Securities and Exchange Board of India on October 31, 2025. It achieved its initial closure on November 10, 2025, with a committed corpus of ₹1,005 crore.
He noted that key post-registration processes, including the appointment of a custodian, registration with depositories for issuance of Alternative Investment Fund (AIF) units, and the constitution of Screening and Investment Committees, have been completed.
The Minister further said that evaluation of spacetech startups is currently underway, with four proposals at an advanced stage after receiving Pre-Investment Committee approval. He highlighted that, given the emerging nature of India’s spacetech ecosystem, many startups are being provided structured guidance to align with institutional investment standards.
Emphasising a facilitative approach, Dr. Singh said startups are receiving handholding support to improve documentation, streamline data, and meet due diligence requirements, enabling them to effectively access funding and scale their innovations.
He expressed confidence that following detailed appraisal and third-party due diligence, the first round of funding approvals and disbursements is expected in early FY2027.
Reaffirming the government’s vision, the Minister said the initiative will strengthen private sector participation, promote innovation, and position India as a major player in the global space economy.