SRI Fund catalyses Rs 3k cr investments into 140 firms since Oct 21

NewsDrum Desk
23 Jan 2023

Mumbai, Jan 23 (PTI) The Self Reliant India (SRI) Fund has helped catalyse Rs 3,000 crore of investments into 140 small businesses since inception, an official statement said on Monday.

This has helped create 25,000 employment opportunities since inception of the fund in October 2021, Union Minister for Micro, Small and Medium Enterprises Narayan Rane said.

The fund, which operates under the Mother Fund-Daughter Fund structure and is managed by SBICAP Ventures (SVL), is structured in such a manner that it invests 20 per cent of the corpus of daughter fund and the daughter funds raise the balance 80 per cent of the capital from outside sources, as per the statement.

Some of the daughter funds empanelled with the fund include Tata Capital Healthcare Fund, Aavishkaar India Fund, SVL-SME Fund, Gaja Capital India Fund, Avaana Sustainability Fund and ICICI Ventures' India Advantage Fund S5 I.

MSME Secretary B B Swain said the SRI Fund is expected to catalyse Rs 50,000 crore in investments in more than 2,500 MSMEs in its lifetime.

Recently, a Limited Partner - General Partner meet of the fund was organised in the financial capital which was attended by stakeholders including SBI Chairman Dinesh Khara; Mercy Epao of National Small Industries Corporation (NSIC); Amitava Chatterjee of SBI Capital Markets and representatives from JICA, Temasek, Proparco, FCDO, BII, NIIF, Waterfield Advisors, Kotak FoF and other domestic and global institutional investors.

Meanwhile, another official statement said the National SC-ST Conclave was held in the financial capital on Monday to help entrepreneurs from the marginalised communities. PTI AA ABM ABM

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