India's Electronics Development Fund Supports 128 Startups

The Ministry of Electronics and Information Technology announced that the Electronics Development Fund (EDF) has supported 128 startups and companies within the Information Technology and Electronics System Design and Manufacturing sectors. Operating as a fund of funds, the EDF invested ₹257.77 crore into eight SEBI-registered daughter funds, which subsequently deployed ₹1,335.77 crore into the supported firms.

Minister Ashwini Vaishnaw informed Parliament that the initiative successfully leveraged government anchor capital to attract private market investment, raising approximately ₹22,553.82 crore. The supported startups also created or acquired 373 intellectual property assets.

Most of the investments were concentrated in Bengaluru, Karnataka. The EDF completed its investment phase in February 2024 and has now transitioned into its divestment phase.