Latest news with #FundofFunds
Hi Dubai
03-06-2025
- Business
- Hi Dubai
Dubai Future District Fund Reports $1.65 Billion in Capital Commitments and Backs 190 Startups in 2024
The Dubai Future District Fund (DFDF) marked a year of strong strategic growth in 2024, securing over US$1.65 billion in capital commitments and supporting more than 190 portfolio companies through direct investments and Fund of Funds initiatives. The update was revealed during DFDF's Annual General Meeting, where the Board of Directors detailed the Fund's progress in advancing its mandate. Anchored by the Dubai International Financial Centre (DIFC) and the Dubai Future Foundation (DFF), the Fund plays a key role in aligning with the Dubai Economic Agenda (D33) by fueling innovation and strengthening the venture capital ecosystem. Chairman of the DFDF Board and CEO of DFF, Khalfan Belhoul, said the Fund's achievements underline its role in shaping Dubai's digital economy and investing in future technologies across key sectors. Arif Amiri, DFDF Board Member and CEO of DIFC Authority, emphasized the importance of global collaboration in positioning Dubai as a hub for innovation. In addition to financial backing, DFDF spotlighted its value creation efforts in 2024 through strategic case studies, developed in partnership with institutions across various sectors. These efforts highlight the Fund's role as a bridge between public and private sectors, encouraging scalable innovation. Looking ahead, and in line with the UAE's declaration of 2025 as the Year of the Community, DFDF is set to deepen its focus on fostering inclusive innovation networks. The Fund reaffirmed its commitment to building stronger connections between startups, investors, regulators, and global markets. The Fund's continued momentum reinforces Dubai's growing reputation as a global destination for tech talent and venture investment. News Source: Emirates News Agency
India.com
06-05-2025
- Business
- India.com
GAIL Hikes Startup Investment Fund To Rs 500 Crore In FY25: Hardeep Puri
New Delhi: GAIL (India) Limited increased its startup investment fund from Rs 100 crore to Rs 500 crore in FY25, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Tuesday, as the country becomes the third largest startup ecosystem in the world. In a post on X social media platform, the minister said there has been a startup revolution in Prime Minister Narendra Modi's government. 'Country becomes the third largest startup ecosystem in the world. GAIL (India) Ltd's startup initiative 'PANKH' is giving a new flight to the youth's startups. It is strengthening the country's energy power by promoting innovations in the field of energy,' Puri informed. The Union Minister further informed that during the financial year 2024-25, the state-owned energy corporation has increased the startup investment fund from Rs 100 crore to Rs 500 crore.'GAIL is supporting 38 startups related to natural gas, pipeline, petrochemical, energy, renewable energy, energy storage etc. These start-ups have created about 1,000 jobs in the last three years,' said Minister Puri. The minister recently informed that six oil marketing companies (OMC) in India have invested Rs 290 crore from their Rs 550-crore startup fund -- nurturing 303 startups so far. Hardeep Puri further stated that the country has over 1.5 lakh startups and 120 unicorns. 'Contributing to this remarkable progress are the 6 Oil Marketing Companies under @PetroleumMin, which have created a Rs 550 crore startup fund. Already, Rs 290 crore has been invested to support 303 startups,' the Union Minister informed. According to the minister, this is real empowerment, real impact, and a real vision for the "future-enabled by the far-sighted leadership of Prime Minister Narendra Modi". The government, in the Union Budget 2025-26, made a substantial allocation towards developing deeptech and AI-enabled platforms through the Rs 10,000-crore Fund of Funds scheme. With more than 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), India has firmly established itself as the key startup ecosystem in the world.
Time of India
06-05-2025
- Business
- Time of India
GAIL hikes startup investment fund to ₹500 crore in FY25: Hardeep Puri, ET EnergyWorld
Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETEnergyworld App Get Realtime updates Save your favourite articles Scan to download App New Delhi: Limited increased its startup investment fund from ₹100 crore to ₹500 crore in FY25, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Tuesday, as the country becomes the third largest startup ecosystem in the a post on X social media platform, the minister said there has been a startup revolution in Prime Minister Narendra Modi's government."Country becomes the third largest startup ecosystem in the world. GAIL (India) Ltd's startup initiative 'PANKH' is giving a new flight to the youth's startups. It is strengthening the country's energy power by promoting innovations in the field of energy," Puri Union Minister further informed that during the financial year 2024-25, the state-owned energy corporation has increased the startup investment fund from ₹100 crore to ₹500 crore."GAIL is supporting 38 startups related to natural gas, pipeline, petrochemical, energy, renewable energy, energy storage etc. These start-ups have created about 1,000 jobs in the last three years," said Minister minister recently informed that six oil marketing companies (OMC) in India have invested ₹290 crore from their ₹550-crore startup fund -- nurturing 303 startups so far. Hardeep Puri further stated that the country has over 1.5 lakh startups and 120 unicorns. "Contributing to this remarkable progress are the 6 Oil Marketing Companies under @PetroleumMin, which have created a ₹550 crore startup fund. Already, ₹290 crore has been invested to support 303 startups," the Union Minister to the minister, this is real empowerment, real impact, and a real vision for the "future-enabled by the far-sighted leadership of Prime Minister Narendra Modi".The government, in the Union Budget 2025-26, made a substantial allocation towards developing deeptech and AI-enabled platforms through the ₹10,000-crore Fund of Funds more than 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), India has firmly established itself as the key startup ecosystem in the world.
Hans India
06-05-2025
- Business
- Hans India
GAIL hikes startup investment fund to Rs 500 crore in FY25: Hardeep Puri
New Delhi: GAIL (India) Limited increased its startup investment fund from Rs 100 crore to Rs 500 crore in FY25, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Tuesday, as the country becomes the third largest startup ecosystem in the world. In a post on X social media platform, the minister said there has been a startup revolution in Prime Minister Narendra Modi's government. 'Country becomes the third largest startup ecosystem in the world. GAIL (India) Ltd's startup initiative 'PANKH' is giving a new flight to the youth's startups. It is strengthening the country's energy power by promoting innovations in the field of energy,' Puri informed. The Union Minister further informed that during the financial year 2024-25, the state-owned energy corporation has increased the startup investment fund from Rs 100 crore to Rs 500 crore. 'GAIL is supporting 38 startups related to natural gas, pipeline, petrochemical, energy, renewable energy, energy storage etc. These start-ups have created about 1,000 jobs in the last three years,' said Minister Puri. The minister recently informed that six oil marketing companies (OMC) in India have invested Rs 290 crore from their Rs 550-crore startup fund -- nurturing 303 startups so far. Hardeep Puri further stated that the country has over 1.5 lakh startups and 120 unicorns. 'Contributing to this remarkable progress are the 6 Oil Marketing Companies under @PetroleumMin, which have created a Rs 550 crore startup fund. Already, Rs 290 crore has been invested to support 303 startups,' the Union Minister informed. According to the minister, this is real empowerment, real impact, and a real vision for the "future-enabled by the far-sighted leadership of Prime Minister Narendra Modi". The government, in the Union Budget 2025-26, made a substantial allocation towards developing deeptech and AI-enabled platforms through the Rs 10,000-crore Fund of Funds scheme. With more than 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), India has firmly established itself as the key startup ecosystem in the world.
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Business Standard
28-04-2025
- Business
- Business Standard
Startup leaders meet Piyush Goyal to discuss innovation, ecosystem growth
India's leading startup founders met Commerce and Industry Minister Piyush Goyal, in a closed-door roundtable, to present opportunities and issues aimed at bolstering the country's startup ecosystem. The interaction, organised by the New Delhi-based industry body, Startup Policy Forum (SPF) on April 24, followed Goyal's recent comments where he questioned whether startups building consumer apps were driving innovation. Among the key proposals discussed were efforts to bring back skilled global tech talent, boost impact of the government's Fund of Funds, and promote deeptech innovation. The founders also called for the creation of a pooled capital vehicle led by entrepreneurs, greater emphasis on efficiency and quality over scale, and steps to ease business operations — including the process of 'flipping' companies back to India from overseas. The additional proposals focused on simplifying mergers and demergers, expanding the startup movement to smaller towns, increasing government support for global expansion, and attracting more investment in the ecosystem. The broader goal is to position India as a leading global innovation hub. The closed-door roundtable was organised under the aegis of SPF's flagship initiative, Startup Baithak, anchored around charting the next chapter of India's startup growth story. 'As a founder and a member of the Startup Policy Forum, I wanted to bring up one key question: how can we attract and retain world-class talent in India? For any startup or industry to thrive, three things are critical — talent, talent, and talent,' said Ritesh Agarwal, founder and chief executive officer of hospitality technology firm Oyo. Agarwal raised two key suggestions. First, he asked how India could attract global talent — such as PhDs, physicists, and data science experts — to drive innovation. Second, he emphasised the need to make the Indian startup ecosystem more appealing to its own highly skilled professionals by simplifying policies around employee stock ownership plans. 'I am glad to share that the minister addressed both these points, offering insights on how the Startup Policy Forum can collaborate with the government to draft specific policies that can create a more conducive environment for attracting talent,' said Agarwal. Amit Jain, CEO, and co-founder of auto tech solutions firm CarDekho, said Goyal demonstrated a strong grasp of all the issues raised, addressing 20 key points from the discussion and summarising them effectively across diverse industries. 'What I look forward to post this (meeting) is a task force formation for each industry so we can move India forward together,' said Jain. There was a wide diversity of startups in the room, from young early-stage companies to companies already listed. Aloke Bajpai, chairman, managing director, and Group CEO of travel tech firm ixigo said Goyal listened to all the suggestions and shared what he expects from the ecosystem and what the government is looking to do in terms of ease of doing business and the new fund of funds. 'We were enlightened with a lot of new initiatives the government is taking, and we came up with some action items for both sides, which made a lot of sense,' said Bajpai. Shashank ND, the cofounder, and CEO of healthcare tech firm Practo, said he was struck by Goyal's focus on creating an international expansion playbook for startups. He noted that Goyal emphasized how Indian startups could take their products and services to new markets, and how the government could play a role in making it easier for them to establish and grow globally. 'I must also add that he laid a lot of calm to the needs of startups regarding reverse flipping back to India,' said Shashank. 'There is an asymmetry between innovation and regulation. This is one thing we wanted to get solved, which we discussed in the meeting,' said Anirudh Sharma, CEO of Digantara, the space tech company. Shruti Aggarwal, co-founder of fintech platform Stashfin, said markets regulator Securities and Exchange Board of India has been a strong regulator, but she highlighted the need for certain policy changes or clarifications specific to the fintech sector.
