Department of Electronics and Information Technology (DeitY), Ministry of Communications and IT, Government of India is the Anchor Investor.
As part of the "Digital India" agenda of the Government, and to develop the Electronics System Design and Manufacturing (ESDM) sector so as to achieve “Net Zero Imports” by 2020. Setting up of Electronic Development Fund (EDF) is one of the important strategies adopted by DeitY which would enable creating a vibrant ecosystem of innovation, research and development (R&D) and with active industry involvement. It is with this objective that an Electronic Development Fund (EDF) is set up as a “Fund of Funds” to participate in professionally managed “Daughter Funds” which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT). The EDF will also help attract venture funds, angel funds and seed funds towards R&D and innovation in the specified areas. It will help create a battery of Daughter funds and Fund Managers who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.