SIDBI Venture plans third fund this year
SIDBI Venture Capital (SVCL) is planning its third fund this year, which will focus on early and growth stage companies across various verticals.
By PTI |
MUMBAI: SIDBI Venture Capital (SVCL), the venture capital arm of Small Industries Dvelopment Bank of India (SIDBI), is planning its third fund this year, which will focus on early and growth stage companies across various verticals, a top official said.
"We will come up with more funds in the current fiscal year. The focus is set equally across different segments that have growth potential," SVCL's Chief Executive Officer, Ajay Kumar Kapur, told reporters here.
However, he declined to divulge further details about the fund.
SVCL had launched its first fund - National Fund for software and IT - with a corpus of Rs 100 crore, Kapur said, adding, "the fund has already been deployed fully in various firms".
The second fund, which is an SME Growth Fund, has a corpus of Rs 500 crore and had attracted investments from nine parties including SIDBI.
Other Investors include leading state-owned lenders like State Bank of India, Bank of Baroda, Bank of India, Punjab National Bank, Corporation Bank, Oriental Bank of Commerce amongst others.
SVCL on Friday announced a Rs 30 crore investment in Mumbai-based Centuar group, which was made out of its SME Growth fund.
"Through the SME Growth fund, we aim to help small and medium companies to accelerate their business growth. The investment in Centuar will fetch us a significant minority stake in the company," Kapur added.
"We will come up with more funds in the current fiscal year. The focus is set equally across different segments that have growth potential," SVCL's Chief Executive Officer, Ajay Kumar Kapur, told reporters here.
However, he declined to divulge further details about the fund.
SVCL had launched its first fund - National Fund for software and IT - with a corpus of Rs 100 crore, Kapur said, adding, "the fund has already been deployed fully in various firms".
The second fund, which is an SME Growth Fund, has a corpus of Rs 500 crore and had attracted investments from nine parties including SIDBI.
Other Investors include leading state-owned lenders like State Bank of India, Bank of Baroda, Bank of India, Punjab National Bank, Corporation Bank, Oriental Bank of Commerce amongst others.
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SVCL on Friday announced a Rs 30 crore investment in Mumbai-based Centuar group, which was made out of its SME Growth fund.
"Through the SME Growth fund, we aim to help small and medium companies to accelerate their business growth. The investment in Centuar will fetch us a significant minority stake in the company," Kapur added.
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