Monday
May 9
2016

Michael and Susan Dell Foundation Earmarks $50 Million for Indian Startups

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.

The Foundation has also backed two early-stage funds in the country as a Limited Partner – Unitus Seed Fund and social business incubator Villgro-launched Menterra Venture Advisors.

Source: The Economic Times (link opens in a new window)

Categories
Entrepreneurship
Tags
entrepreneurship, philanthropy, startup