Answer

1. F

   Facts

   Structure: SIDBI invests in 131+ SEBI-registered AIFs, the AIFs invest in startups; SIDBI contributes max 20% of any AIF's corpus, every ₹1 attracts ₹4+ private capital; 940+ startups funded. Blume Ventures, Chiratae, Omnivore, Fireside among empanelled AIFs; Sector and stage agnostic, seed to growth.

2. P

   Provisions and law

   • DPIIT + SIDBI · Fund of Funds for Startups
3. A

   Analysis

   How To Access: You do NOT apply to SIDBI directly. Pitch to empanelled AIFs who invest your sector/stage; Get DPIIT recognised first, AIFs require it for FFS-related investment; List of empanelled AIFs at sidbi.in/ffs; Process: AIF pitch → term sheet → legal → wire. 3-9 months typical. Eligibility: DPIIT recognition required; Pvt Ltd company (AIFs almost never invest in LLP or partnership); Traction, team, and market opportunity, AIF's commercial criteria apply. Government does not dictate investment decisions.; No turnover cap from SIDBI side, individual AIF mandates vary. Term Sheet: Non-binding. Covers valuation, instrument (equity/CCPS/CCD), anti-dilution, board seats, information rights, pro-rata rights. Negotiate hard here. Shareholders Agreement (SHA): Binding. Drag-along, tag-along, ROFR, vesting schedule, liquidation preference. Get a startup lawyer.

4. C

   Conclusion

   1. 1DPIIT Recognition Certificate
   2. 2Pitch deck (15-20 slides)
   3. 3Financial projections (3-5 years)
   4. 4Cap table (current + post-raise)
   5. 5Audited financials (if 1+ yr operational)
   6. 6MCA incorporation + MOA/AOA

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