Finance Minister Nirmala Goyal announced that the government is set to release Phase II guidelines for the Fund of Funds (FoF), signaling a strategic push to bolster startup financing and innovation-driven ventures. The new framework is expected to enhance capital allocation efficiency, attract private sector participation, and expand access to growth-stage enterprises across sectors. Analysts suggest that Phase II will focus on transparent governance, risk-sharing mechanisms, and targeted investments to strengthen India’s startup ecosystem.