Michael and Susan Dell Foundation Earmarks $50 Million for Indian Startups
Monday, May 9, 2016
The Michael and Susan Dell Foundation (MSDF), one the world’s biggest philanthropic organisations, and an active impact investor in India, has earmarked an additional $50 million (about Rs 333 crore) towards investments in the country over the next three years.
The amount, which will be primarily used towards making direct investments in early-stage ventures, will be in addition to the impact investor’s existing vehicles, which includes its Delaware-registered, proprietary seed-stage fund – India Educational Investment Fund.
“A large part of the $50 million will go towards (funding) startups, and this is also because, while we are an extremely active impact investor, we are increasingly finding that the venture capital space is struggling to get money, and ventures in areas of our interest, are even more starved,” Debasish Mitter, country director – India, MSDF told ET.