India approved a $1.1 billion state-backed fund-of-funds in February, TechCrunch reported. It invests through private venture firms and targets deep tech and manufacturing startups that typically require longer time horizons and larger amounts of capital.
CNBC later reported the government could commit about $11 billion under a research and development fund, matched by private capital to reach roughly $25 billion. Nvidia is also working with Peak XV, Accel India and Elevation Capital to find AI startups.
Source: TechCrunch