SIDBI to launch 1,000 Crore venture capital fund

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Kolkata: SIDBI has discussed its plans to launch a 1,000-crore venture capital (VC) fund, aiming at the high growth industries. "We are going to launch 1,000 crore VC fund, aiming at the high growth industries in the SME sector," SIDBI Deputy Managing Director N K Maini said. The fund would be launched by its subsidiary SIDBI Venture Capital. Speaking to reporters on the sidelines of a CII seminar on SME, Maini said the institution had sanctioned 35,000 crore last fiscal and disbursements made were 32,000 crore. He said target disbursements during the current financial year was 41,000 crore. Maini said SIDBI would shortly launch a new electronic bill discounting platform named N-Trees.
Source: PTI