Jharkhand sets up new $7.35m venture capital fund

The Indian state plans to focus investment on startups and innovative projects run by young people.

The state of Jharkhand in eastern India has this week approved the creation of a new Rs50 crore ($7.35m) venture capital fund to support startup companies, the Telegraph India has reported.

The new entity will be run in partnership with Gujarat Venture Finance and will be in charge of three investment companies.

See more from this Government Report: India

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