New Delhi, Feb. 16 -- The Union Cabinet has approved the establishment of Startup India Fund of Funds 2.0 (Startup India FoF 2.0) with a total corpus of Rs 10,000 crore to mobilise venture capital for the country's startup ecosystem.

The new fund aims to accelerate the next phase of India's startup growth by unlocking long-term domestic capital, deepening the venture capital landscape and strengthening innovation-driven entrepreneurship across sectors.

Launched under the Startup India programme, the second phase of the Fund of Funds builds on nearly a decade of policy support. Since 2016, the number of startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) has increased from fewer than 500 to over 2 l...