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The Telangana government is setting up T-Fund, an exclusive investment arm to invest in start-ups. The fund will kick off investment activity with an initial corpus of ₹100 crore.
The State government has been working on an investment firm ever since it set up the tech start-up incubator T-Hub. There was a plan to rope in Tatas into the initiative.
“We are going to announce the establishment of the fund and information on modalities of investments and stakeholders that contributed to the fund during the Global Entrepreneurship Summit,” Jayesh Ranjan, Principal Secretary (IT and Industries) of Government of Telangana, has said.
Addressing reporters here on Monday ahead of the GES that is scheduled for November 28-30 here, he said the start-ups would get mentorship from the ecosystem that’s being built in the city.
The State had announced a plan to come out with a ₹600-crore fund with a seed fund from it and contributions from private investors. Like it did with T-Hub, the government will let an independent organisation to manage the fund and take decisions on identifying the right candidates for investments.
“We are starting off with ₹100 crore in the first phase. This will go up in the subsequent phases,” a State government official said.
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