Excelsior Correspondent
NEW DELHI, Apr 1: Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, and MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh today informed the Lok Sabha about “Antariksh Venture Capital Fund”, set up to promote Space StartUps and the emerging Spacetech ecosystem.
The Minister also added that India’s dedicated venture capital fund for the space sector is progressing steadily, with investment in selected StartUps expected to begin from the first quarter of FY 2027.
In reply to a question in the Lok Sabha during the ongoing Budget Session of Parliament, Dr. Jitendra Singh informed that the “Antariksh Venture Capital Fund”, has been operationalised with key institutional mechanisms now in place.
The question pertained to the status, investments, beneficiaries, returns, and employment generation under the venture capital fund for the Space sector.
Dr Jitendra Singh stated that the fund has been established by SIDBI Venture Capital Limited (SVCL) as the investment manager. The fund received registration from SEBI on October 31, 2025, and achieved its initial closing on November 10, 2025, with a committed corpus of Rs 1,005 crore.
Highlighting the progress made so far, the Minister noted that essential post-registration formalities, including appointment of custodian, registration with depositories for issuance of Alternative Investment Fund (AIF) units, and constitution of Screening and Investment Committees, have been completed.
Dr. Jitendra Singh further informed that evaluation of spacetech startups is underway, with four proposals already at an advanced stage after receiving Pre-Investment Committee approval. He emphasized that given the nascent nature of India’s spacetech startup ecosystem, many startups require structured guidance to align with institutional investment processes.
The Minister underlined that “handholding support” is being extended to StartUps to help them streamline their data, improve documentation, and meet due diligence requirements. This facilitative approach, he said, is aimed at enabling startups to effectively access funding and scale up their innovations.
Dr. Jitendra Singh expressed confidence that, following detailed appraisal, third-party due diligence, and completion of documentation, the first round of funding approvals and disbursements is expected in early FY2027.
Reiterating the government’s commitment to fostering a globally competitive space ecosystem, Dr. Jitendra Singh said that the initiative marks a significant step towards strengthening private sector participation, encouraging innovation, and positioning India as a leading player in the global space economy.
Dr. Jitendra Singh further emphasized the Government’s commitment to inclusive participation, noting that special provisions have been incorporated to ensure wider access.
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