In line with the vision of Shri Narendra Modi, Honorable Prime Minister of India, the Hon'ble Finance Minister, announced creation of a Fund of Funds for Micro, Small and Medium Enterprises (MSMEs) under the Atmanirbhar Bharat package on the 13th May 2020, to address shortage of funds being faced by MSMEs in securing growth capital.

Consequently, NSIC Venture Capital Fund Limited (NVCFL), a 100% subsidiary of The National Small Industries Corporation Limited ("NSIC"), a Mini-Ratna Corporation of Government of India under the Ministry of Micro, Small and Medium Enterprises (MoMSME), Government of India, was incorporated.

The 'Self Reliant India (SRI) Fund' (Fund), with an overall fund corpus of Rs. 10,006 crore, is organised as the first scheme of NVCFL. NVCFL is registered with the Securities and Exchange Board of India ("SEBI") as a Category II Alternative Investment Fund under the provisions of the SEBI (Alternative Investment Fund) Regulations, 2012 ("AIF Regulations"). SRI Fund has been sponsored by NSIC. The anchor investor of the Fund is the Government of India.

SRI Fund will employ a 'Fund-of-Fund' investment strategy wherein the Fund shall invest in SEBI registered Category I and Category II Alternative Investment Funds ("Daughter Funds"), which shall in turn invest in MSMEs. The Daughter Funds shall invest at least 5 times the amount of capital contribution received from SRI Fund (net of fees and expenses) in MSMEs, covered under the Micro, Small & Medium Enterprises Development Act, 2006.