Rs 1,000 cr boost

The Indian space sector is set to receive a significant boost with the union cabinet’s recent approval of a Rs 1,000 crore Venture Capital Fund under the aegis of the Indian National Space Promotion and Authorization Center (IN-SPACe).

The deployment period of the proposed Rs 1,000 crore VC fund is planned to be five years from the actual date of start of the fund operations. The average deployment amount could be Rs 150-250 crore per year, depending on the investment opportunities and fund requirements. The indicative range of investment is proposed to be Rs 10 crore – Rs 60 crore, contingent upon the stage of the company, its growth trajectory and its potential impact on national space capabilities.