About Self-Reliant India Fund:
- It has been set up to infuse Rs. 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units.
- Under this fund of Rs. 50,000 crore, there is a provision of 10,000 Crore from the Government of India and Rs. 40,000 Crore through Private Equity/Venture Capital funds.
- It operates through a mother-fund and daughter-fund structure for equity or quasi-equity investments.
- It is being implemented by NSIC Venture Capital Fund Limited (NVCFL), which is an Alternative Investment Fund (AIF) of Category II registered with SEBI.
- The Government of India through the Ministry of Micro, Small and Medium Enterprises (MoMSME) is the anchor investor.
- SRI fund is oriented to provide the funding support through NVCFL to the Daughter Funds for onward provision to MSMEs as growth capital, in the form of equity or quasi-equity, for the following:
- Enhancing equity/equity-like financing to MSMEs and listing of MSMEs on stock exchanges.
- Supporting faster growth of MSME businesses and thereby ignite the economy and create employment opportunities.
- Supporting enterprises which have the potential to graduate beyond the MASME bracket and become National/International Champions.
- Supporting MSSMEs, which help make India self-reliant by producing relevant technologies, goods, and services.
- The Daughter Funds shall invest at least 5 times the amount of capital contribution received from SRI Fund (net of fees and expenses) in MSMEs, covered under the Micro, Small & Medium Enterprises Development Act, 2006.