IndiGo venture gets Sebi nod to launch venture capital fund
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.
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPF Retirement Fund Calculation: What should be your monthly contribution to get Rs 2 cr, Rs 3 cr, and Rs 4 cr corpus
Top 7 Mutual Funds With Best SIP Returns in 3 Years: Rs 21,000 monthly SIP in No. 1 fund has jumped to Rs 14,83,549; know about others
Top SBI Mutual Funds With Highest SIP Returns in 20 Years: Rs 10,000 monthly SIP investment in No. 1 fund has grown to Rs 2,54,27,522; here's how it has performed in other schemes
Power of Compounding: How beginning with Rs 50/day savings can help you create Rs 3.2 crore corpus | Know calculations
Top 7 Mid Cap Mutual Funds With Highest SIP Returns in 10 Years: Rs 10,000 monthly SIP investment in No. 1 fund is now worth Rs 49.67 lakh; know about others
09:37 PM IST