India's Rs 50,000 cr SRI Fund, built to fix VC tech bias, ends up backing tech-heavy retail bets
The Self Reliant India Fund, conceived as a lifeline for MSMEs sidelined by venture capital, has channelled capital into 750 companies and catalysed Rs 16,000 crore — but 70% of its deployments skew tech-heavy, including consumer brands like Chai Point, Biryani by Kilo and Truemeds.
India's Rs 50,000 crore SRI Fund, meant to back MSMEs ignored by VCs, has instead funded mostly tech startups including retail brands Chai Point and Biryani by Kilo, raising questions about its mandate.