Money & Banking

SIDBI to launch Rs 1,000 cr venture capital fund

PTI Kolkata | Updated on February 22, 2011 Published on February 22, 2011

SIDBI said on Tuesday that it plans to launch a Rs 1,000 crore venture capital (VC) fund, aiming at the high growth industries.

“We are going to launch Rs 1,000 crore VC fund, aiming at the high growth industries in the SME sector,” SIDBI Deputy Managing Director, Mr N K Maini, said.

The fund would be launched by its subsidiary SIDBI Venture Capital Limited.

Speaking to reporters on the sidelines of a CII seminar on SME here on Tuesday, Mr Maini said the institution had sanctioned Rs 35,000 crore last fiscal and disbursements made were Rs 32,000 crore.

He said target disbursements during the current financial year were Rs 41,000 crore.

Mr Maini said SIDBI would shortly launch a new electronic bill discounting platform named N—Trees.

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Published on February 22, 2011
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