Source: TechCrunch
Summary
The Indian government has announced a $1.1 billion fund-of-funds to support deep-tech and manufacturing startups. The fund will invest through private venture capital firms to promote innovation and entrepreneurship in these sectors. The initiative aims to foster growth and development in India’s startup ecosystem. According to reports, the fund will focus on investing in startups working on cutting-edge technologies.
Our Reading
The launch follows a familiar script.
A government-backed fund-of-funds, because that’s exactly what India’s deep-tech and manufacturing startups needed – more money, managed by more people. The $1.1 billion fund will invest through private VCs, because who needs direct investment when you can add more layers? The goal is to support innovation, but we’ve heard that one before. The fund will focus on cutting-edge technologies, which is code for “we’ll invest in whatever is trendy.” India’s startup ecosystem is about to get a whole lot more… familiar.
Author: Evan Null
