IndiGo Ventures Gets Sebi Nod for Venture Capital Fund
By Rediff Money Desk, New Delhi Oct 15, 2024 19:24
IndiGo Ventures, the airline's corporate venture capital fund, has received Sebi approval to launch a venture capital fund focused on aviation and consumer startups.
New Delhi, Oct 15 (PTI) Country's largest airline IndiGo on Tuesday said IndiGo Ventures has received approval from market regulator Sebi to launch a venture capital fund, which is expected to start investments by the end of this fiscal.
IndiGo Ventures, the airline's corporate venture capital fund, has received the Alternative Investment Fund approval from Securities and Exchange Board of India (SEBI).
"The fund will invest in startups that have the potential to redefine the future of aviation and beyond, seeking pre-Series A, Series A and Series B funding. These include startups working on cutting-edge technologies and solutions within the aviation sector," a release said.
Further, the fund will look to invest in consumer startups that have a touch-point in the passenger journey, such as travel, lifestyle, hospitality and transportation.
According to the release, the fund has commenced pre-investment activities, including engaging with select startups and their founders.
"The fund is expected to start investments by the end of FY 2024-25," it added.
IndiGo's domestic market share stood at 63 per cent in September and it has a fleet of more than 370 planes.
IndiGo Ventures, the airline's corporate venture capital fund, has received the Alternative Investment Fund approval from Securities and Exchange Board of India (SEBI).
"The fund will invest in startups that have the potential to redefine the future of aviation and beyond, seeking pre-Series A, Series A and Series B funding. These include startups working on cutting-edge technologies and solutions within the aviation sector," a release said.
Further, the fund will look to invest in consumer startups that have a touch-point in the passenger journey, such as travel, lifestyle, hospitality and transportation.
According to the release, the fund has commenced pre-investment activities, including engaging with select startups and their founders.
"The fund is expected to start investments by the end of FY 2024-25," it added.
IndiGo's domestic market share stood at 63 per cent in September and it has a fleet of more than 370 planes.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Standard Capital
- 1.50 ( -0.66)
- 36469489
- Vodafone Idea L
- 9.12 (+ 0.22)
- 34742533
- Srestha Finvest
- 0.81 ( -4.71)
- 27777771
- Spicejet Ltd.
- 66.47 (+ 1.16)
- 20250094
- KBC Global
- 2.35 (+ 1.73)
- 15267597
MORE NEWS
Tata AIA Life Nets Rs 25 Cr Premium on Tata Neu...
Tata AIA Life has achieved Rs 25 crore in annualized premium within three months of...
Krutrim AI Business Head Ravi Jain Resigns
Ravi Jain, business head of Krutrim AI, has resigned after three years. This is the...
National Traders' Welfare Board Holds 4th...
The National Traders' Welfare Board (NTWB) held its fourth meeting, focusing on welfare...