Sidbi's new venture capital fund to back late-stage start-ups

Has made 52 exits from 117 bets across 7 funds

State-run Small Industries Development Bank of India (Sidbi) plans to invest in late and growth-stage start-ups from its eighth fund, a Rs 7-10 billion New Horizons Fund, said a senior official.

Sidbi's earlier funds focused on early-stage bets in start-ups and the micro small & medium enterprises (MSME) space. For instance, it was the first institutional investor in payment gateway BillDesk; it also backed Carzonrent much before Uber and Ola were conceived. 

Sidbi has been managing funds of Rs 4-5 billion (such as its India Opportunities Fund, SME Fund or the Samriddhi Fund). Now, it feels, is a good time