Biotechnology Industry Research Assistance Council (BIRAC) / Department of Biotechnology
Status: active. A 'Fund of Funds' promoted by the Department of Biotechnology and implemented by BIRAC to plug the risk-capital gap ('valley of death') faced by biotech startups. AcE invests in and partners with SEBI-registered Category I & II Alternative Investment Funds (venture funds and angel funds), which in turn invest directly in biotech startups.
BIRAC commitment of approximately Rs 174.5 crore to a network of daughter AIFs (16 AcE Fund partners as of latest data) that invest equity capital in biotech startups across healthcare, agri-tech, industrial biotech and allied sectors.