BIRAC launches AcE Fund (Last Date : 31st December, 2017)
The proposed BIRAC AcE (Accelerating Entrepreneurs) Fund (hereafter referred to as “AcE Fund”) will , operate as “Fund of Funds” to foster R&D and innovation in Biotechnology domains (including areas such as healthcare, pharma, medical devices, agriculture, sanitation to name a few). AcE Fund shall invest in and partner with SEBI-registered AIFs (i.e. Venture Funds and Angel Funds). It is intended that the AcE Fund plugs the gap of the “Valley of Death “encountered by the Biotech start-ups during their product development cycle and growth phase.
Detailed Application are invited from registered daughter funds which are registered in India and abide with relevant rules with SEBI Regulation on Venture Funds & are set up to achieve the objectives mentioned above will be eligible from the AcE Fund.
The particulars required as per the formats should be submitted duly by the authorized person of the applicant entity, before 31st Dec 2017, 5:30 pm (IST).