The agreement marks the formal beginning of the fund’s investment activities in spacetech startups, following SEBI approval on October 31.
The Indian National Space Promotion and Authorisation Centre (IN‑SPACe) and SIDBI Venture Capital Ltd (SVCL) on Monday signed a contribution agreement to operationalise the ₹100 billion venture capital (VC) fund dedicated to India’s space sector.
The agreement was signed between Lochan Sehra, Joint Secretary, IN‑SPACe, and Arup Kumar, Managing Director & CEO, SVCL.
Speaking on the occasion, Sehra said, “This fund is a major enabler for India’s private space sector. It will support startups with the financial runway needed to test ideas, build indigenous technologies, and scale confidently.”
Kumar added, “This dedicated fund will give young companies the capital and confidence to innovate boldly, commercialise breakthroughs, and contribute to India’s emergence as a major space power. We are honoured to partner with IN‑SPACe and the Government of India in advancing this mission.”
Also present were Ratnesh Kumar, Deputy Director (Finance & Accounts), and Rajesh Kohli, Assistant Director (Finance & Accounts), IN‑SPACe, representing the financial and operational leadership behind the fund’s structuring. Pawan Goenka, Chairman of IN‑SPACe, addressed the ceremony virtually, emphasising the fund’s role in catalysing India’s private space ecosystem.
The agreement marks the formal beginning of the fund’s investment activities, following approval by the Securities and Exchange Board of India (SEBI) on October 31.
The Union Cabinet, chaired by Prime Minister Narendra Modi, had approved the establishment of the VC fund in October 2024. In March 2025, SVCL was appointed as fund manager, drawing on its experience in nurturing early‑stage and technology‑led enterprises across India.
Designed to provide critical early‑stage and growth capital, the fund will support startups working across launch technologies, satellites, payload systems, in‑space services, earth observation, communication platforms, and downstream applications, enabling them to scale and strengthen national space capability.