‘LIC, pension funds must fund start-ups’

Speaking at the India Economic Summit 2016 on Friday, DIPP secretary Ramesh Abhishek said: “LIC and pension funds must step in.

By: Express News Service | Published:October 8, 2016 2:45 am

LIC, life insurance corporation, LIC pension, LIC pension fund, start up, start up funding, LIC startup funding, DIPP, indian express news, india news, business newsThe government could consider policies to enable insurance companies like LIC and pension funds to invest in start-ups and boost the entire ecosystem.

Speaking at the India Economic Summit 2016 on Friday, Department of Industrial Policy and Promotion (DIPP) secretary Ramesh Abhishek said: “LIC and pension funds must step in (in the start-up segment).

“EPFO had recently taken steps to increase their exposure in stock markets. So definitely, their money needs to be leveraged (for start-ups).”
Abhishek’s statement came in response to comments by Seedfund India managing partner Mahesh Murthy that large insurance firms invest mainly in stock but not in start-ups.

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