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- Union Cabinet approved a 1000 crore rupees Venture Capital Fund for the space sector.
- It has been approved under the aegis of the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
- The deployment period of the proposed Venture Capital Fund will be up to five years from the actual date of the start of the fund operations.
- The average allocated amount could be 150 to 250 crore rupees per year.
- The indicative range of investment is proposed to be Rs 10-Rs 60 crore.
- Indicative Equity Investment Range could be Rs 10 crore–Rs 30 crore for the growth stage and Rs 30 crore to Rs 60 crore for the late growth stage.
- This fund will support approximately 40 startups.
- The Government established IN-SPACe to promote and oversee private sector participation in space activities.
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