Fund of Funds for Startups 2.0 (FFS)

The Fund of Funds for Startups (FFS) does not invest directly in startups. SIDBI, the operating agency, commits capital to SEBI-registered Alternative Investment Funds (AIFs), which must invest at least twice the drawn amount into DPIIT-recognised startups. FFS 2.0 carries a Rs 10,000 crore corpus focused on deep tech, advanced manufacturing and early-growth ventures, crowding in private venture capital. FFS 2.0 is a fresh ₹10,000 crore commitment layered on top of the original Fund of Funds, explicitly weighted toward deep tech and advanced manufacturing alongside early-growth ventures more broadly, and designed to crowd in private venture capital at a multiple of SIDBI's own commitment. As with the original scheme, DPIIT recognition is a precondition, and the practical path in remains pitching to a SEBI-registered AIF that has already received an FFS 2.0 commitment rather than approaching SIDBI directly.