IN-SPACe Appoints SVCL as Fund Manager for Rs. 1000 Crore VC in Space sector

Current Context: On March 21, 2025, IN-SPACe (Indian National Space Promotion and Authorisation Centre) selected SIDBI Venture Capital Limited (SVCL) to manage a ₹1,000 crore venture capital (VC) fund.

• This fund is dedicated to space-tech startups in India and aims to support innovation at both early and growth stages.
• Investments ranging from ₹10 crore to ₹60 crore will be provided based on the startup's development stage.
• The initiative is part of India's efforts to strengthen its space economy, which is projected to grow from $8.4 billion in 2022 to $44 billion by 2033.
• By fostering entrepreneurship, this move will boost technological advancements and create employment opportunities in the growing space sector.

Question:

Q.1 On March 21, 2025, which entity was selected by IN-SPACe to manage the ₹1,000 crore venture capital fund for space-tech startups in India?
a) SBI Capital Markets
b) SIDBI Venture Capital Limited (SVCL)
c) National Investment and Infrastructure Fund (NIIF)
d) Invest India

Answer: b) IN-SPACe (Indian National Space Promotion and Authorisation Centre) chose SIDBI Venture Capital Limited (SVCL) to manage a ₹1,000 crore VC fund for space-tech startups in India, supporting innovation and growth in the sector.