Self-Reliant India (SRI) Fund

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As a part of Aatmanirbhar Bharat package, Rs 50,000 crore Equity infusion for MSMEs through Fund of Funds was announced. In compliance with the announcement, Self Reliant India (SRI) Fund has been set up to infuse Rs. 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units. Under this Fund of Rs. 50,000 crore, there is a provision of Rs.10,000 Crore from the Government of India and Rs.40,000 Crore through Private Equity / Venture Capital funds.

SRI fund operates through a mother-fund and daughter-fund structure for equity or quasi-equity investments. NSIC Venture Capital Fund Limited (NVCFL) which operates as Mother Fund in SRI Fund implementation, was registered as a Category-II Alternative Investment Fund (AIF) with SEBI, on 1st September, 2021.

Objectives: 

SRI Fund, in the form of Category II Alternative Investment Fund (AIF), will be oriented towards providing funding support to the Daughter Funds for onward provision to MSMEs as growth capital, in the form of equity or quasi-equity, for: 

i. Enhancing equity/equity like financing to MSMEs and listing of MSMEs on Stock’s Exchanges 

ii. Supporting faster growth of MSME Businesses and thereby ignite the economy and create employment opportunities; 

iii. Supporting enterprises which have the potential to graduate beyond the MSME bracket and become National / International Champions; 

iv. Supporting MSMEs which help making India self-reliant by producing relevant technologies, goods and services. 

Scope and Target of the Fund: 

i. Since MSMEs are spread all over the country, the Fund should be dispersed to ensure that impact is created across the Nation and entities in farthest regions of the country can access this funding. 

ii. The target group of funding, through the Daughter Funds, would be those MSMEs which have marked potential to grow, but are not able to grow because their requirement for growth capital remains unfulfilled. They do not have access to the market and debt funding is difficult to come owing to borrowing cost, inability to provide security, over leveraging etc.

PIB, Ministry of Micro, Small & Medium Enterprises

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