SIDBI VC Announces First Close of Antariksh Venture Capital Fund at INR 1,005 Cr The fund has a target size of INR 1,600 crore.
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SIDBI Venture Capital Ltd (SVCL) has announced the first close of the Antariksh Venture Capital Fund at INR 1,005 crore.
The fund is anchored by INR 1,000 crore from the Indian National Space Promotion and Authorisation Centre (IN-SPACe). Registered as a Category II Alternative Investment Fund with a tenure of 10 years, the fund aims to back early and growth stage Indian spacetech companies.
The Antariksh Venture Capital Fund will invest in a broad range of sectors within the space ecosystem. These include launch systems, satellites, payloads, in-space services, ground services, earth observation, communication solutions and downstream applications.
The initiative is aligned with India's goal of expanding the space economy to an estimated USD 44 billion by 2033.
The fund has a target size of INR 1,600 crore. With the Contribution Agreement executed by the anchor investor, SVCL has completed the first close and will now seek additional commitments from domestic and global institutions. This includes interest expected from sovereign and institutional investors under the green shoe option.
Arup Kumar, Managing Director and CEO of SVCL, said, "SVCL began its journey in 1999 and has supported several companies that went on to shape their industries. The Antariksh Venture Capital Fund will help strengthen India's technological capability in the space sector."
Established in 1999, SIDBI Venture Capital Ltd manages SEBI registered funds aimed at supporting startups and MSMEs. It works with government bodies, public institutions and private investors to provide long term risk capital.
