Exit plan for VC investors: Sidbi's secondary deal fund
Sidbi) to run a secondaries-focused fund of funds, people in the know told ET.
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The planned fund, the first such move by the Centre, will back venture capital firms managing vehicles focused on secondary transactions. In a secondary transaction, an investor purchases shares from a company's existing backers and no money is infused into the startup.
“The evolution of funds focused on secondaries in places like the US and China has shown that it leads to timely exits for early investors… and this prevents them from taking short-term decisions,” a senior government official said. “Sidbi has already provided a boost to the early stage investment ecosystem through its fund of funds… a similar mechanism is needed so that exits can be made in a timely manner.”
ET had reported earlier that Indian investors scored exits of over $5 billion in 2024 from secondary trades and initial public offerings (IPOs), pointing to the rising need for liquidity.
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