SIDBI, NSIC subsidiary to back startup fund Sorin
ECONOMY & POLICY

SIDBI, NSIC subsidiary to back startup fund Sorin

Small Industries Development Bank of India (Sidbi) and The National Small Industries Corporation (NSIC) will back Sorin Investments, the startup fund owned by Sanjay Nayar, the former head of private equity firm KKR India, in a major sign of confidence for the veteran banker and deal maker.

Both Sidbi and the Rs 10,000-crore Self Reliant India (SRI) Fund, owned by NSIC Venture Capital Fund (NVCFL), a 100% subsidiary of NSIC, will invest about Rs 300 crore into Sorin, said multiple people aware of the development. The fresh investments will help Sorin close its maiden fund at Rs 1,300 crore. SRI Fund, sponsored by NSIC, will employ a 'Fund-of-Funds' investment strategy wherein it will invest in Sebi-registered Category I and Category II alternative investment funds (daughter funds), which will, in turn, invest in MSMEs, according to the company's website.

When contacted, Nayar declined to comment while mails sent to Sidbi and NVCFL did not elicit any response till press time.

Sorin Investments had raised a corpus of over Rs 1,000 crore in August. Sorin has deployed about Rs 70 crore till date in two startups. It plans to invest an additional about Rs 70 crore in two more transactions by 2023, people said.

Small Industries Development Bank of India (Sidbi) and The National Small Industries Corporation (NSIC) will back Sorin Investments, the startup fund owned by Sanjay Nayar, the former head of private equity firm KKR India, in a major sign of confidence for the veteran banker and deal maker. Both Sidbi and the Rs 10,000-crore Self Reliant India (SRI) Fund, owned by NSIC Venture Capital Fund (NVCFL), a 100% subsidiary of NSIC, will invest about Rs 300 crore into Sorin, said multiple people aware of the development. The fresh investments will help Sorin close its maiden fund at Rs 1,300 crore. SRI Fund, sponsored by NSIC, will employ a 'Fund-of-Funds' investment strategy wherein it will invest in Sebi-registered Category I and Category II alternative investment funds (daughter funds), which will, in turn, invest in MSMEs, according to the company's website. When contacted, Nayar declined to comment while mails sent to Sidbi and NVCFL did not elicit any response till press time. Sorin Investments had raised a corpus of over Rs 1,000 crore in August. Sorin has deployed about Rs 70 crore till date in two startups. It plans to invest an additional about Rs 70 crore in two more transactions by 2023, people said.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Innovision Wins NHAI Toll Collection Contract at Aashpur Fee Plaza

Innovision Limited has informed stock exchanges that it has been awarded a user fee collection and facility maintenance contract by the National Highways Authority of India (NHAI). The letter of award was issued on 10 August 2026 for operations at Aashpur Fee Plaza at design kilometre 231.100 on National Highway number 91 between Aligarh and Kanpur in Uttar Pradesh. The engagement covers collection of user fees for four and more lane sections and the upkeep and maintenance of adjacent toilet blocks including replenishment of consumable items. The contract was secured through a competitive e-te..

Next Story
Infrastructure Urban

Bharat Electronics Secures Rs.5,410 mn In Orders

Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, has secured additional orders worth Rs.5,410 million (mn) since the last disclosure on 31 July 2026. The fresh awards raise the company's recently reported intake and were announced by way of a regulatory filing on 10 August 2026. The orders span multiple business verticals and are incremental to contracts already under execution. The update follows the company's routine disclosure obligations to the stock exchanges. Major orders received include communication equipment, electro optics, ammunition fuzes, Chemical B..

Next Story
Infrastructure Urban

United Drilling Tools Receives US Order For Gas Lift Mandrel

United Drilling Tools Limited said it has received an order from Tri Lift Services Inc of the United States for the supply of a gas lift mandrel to be used in the oil and gas industry. The company said the disclosure was made to listing authorities under the Securities and Exchange Board of India listing rules and the SEBI master circular of November 2024. The notice set out the nature of the contract as commercial and awarded by an international entity. The order is to be executed in the ordinary course of business and carries an estimated contract value of Rs four point eight three million (..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement