Consider the following statements about India Aspiration Fund (IAF):
1. It is a fund of funds that would invest in venture capital funds for meeting the equity requirement of MSME start-ups.
2. It is managed by SIDBI .
Which of the above statements is/are correct?

Answer: [C] Both 1 and 2

India Aspiration Fund (IAF) is a fund of funds that would invest in venture capital funds for meeting the equity requirement of MSME start-ups. It is launched by Small Industries Development Bank of India (SIDBI). SIDBI Make in India Loan for Enterprises (SMILE) is another fund launched by SIDBI to aid small enterprises.

This question is a part of GKToday's Integrated IAS General Studies Module