AIFs seek special dispensation for deep-tech startups

The alternative investment funds (AIFs) financing startups under the government’s Fund of Funds Scheme (FFS) have requested a special window or carve-out to support deep-tech startups. In a meeting with the Department for Promotion of Industry and Internal Trade (DPIIT) the 75 AIFs, which receive a portion of the funds they invest from the government also called for an increase in the corpus of the FSS and extend its duration. The scheme is set to run across the 14th and 15th Finance Commission cycles.