Amid SVB crisis, SIDBI's FoF gets into action to support start-ups

Fund of Fund for start-ups (FFS) managed by SIDBI's venture capital arm has given money to AIFs, which are in turn supporting over 800 start-ups

Small Industries Development Bank of India (SIDBI) has begun groundwork through its Fund of Funds (FoF) to provide timely financial support to start-ups in the country, following the shutting down of US-based Silicon Valley Bank (SVB).

There is fear that the funding from global sources may decline in the near term due to the flight of money to the United States (US) because of safe haven bets in the coming few months, against the backdrop of a series of American banks shutting down on liquidity concerns.

SIDBI executives said this FoF would work with over 100 active alternate investment funds