Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
SBICAP Ventures to set up fund for SME investment
SBICAP Ventures Ltd (SVL), a subsidiary of the State Bank of India, has signed a MoU with the Ministry of External Affairs for establishing the Trilateral Development Cooperation Fund (TDC Fund) for joint projects with global partners. The TDC Fund will route India's commitment of about INR 175 crore (GBP 17.5 million) to the Global Innovation Development Fund (GIP Fund) – proposed to be set up in partnership with the Foreign, Commonwealth and Development Office (FCDO) under the India – UK Global Innovation Partnership (GIP). The GIP Fund will invest in mainly small & medium enterprises that have developed and tested viable social impact innovations that can be transferred and scaled up. GIP Fund will target enterprises that are at an advanced stage but lack access to capital for expansion to other developing countries.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.