BENGALURU: The Small Industries Development Bank of India (SIDBI) on October 20 issued Rs 10 crore each to agriculture and rural development-focused venture funds Ankur Capital and Omnivore Partners from the ASPIRE fund, a fund of funds with a corpus of Rs 60 crore. The ASPIRE Fund, which is part…
Tag: Kshatrapati Shivaji
Mudra reports Rs 66 cr net profit in first year of operation
Micro Units Development & Refinance Agency (Mudra) on October 3 reported a net profit of Rs 66 crore and an income of Rs 364 crore in the first year of its operations. Mudra Chairman Kshatrapati Shivaji said the company’s net profit and deferred tax adjustments stood at Rs 65.93 crore w…
Young entrepreneurs to get more funding from govt
To support young entrepreneurs, the central government will launch ‘special funds’ for those in the 16-21 years and 21-26 years age groups. “It’s on the drawing board. We have accumulated funds worth Rs 9,000 crore under the technology cess category, and we want to use this. We might launch incub…
MSME bank SIDBI, LIC join to fund the funders
Small Industries Development Bank of India (SIDBI) signed a Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC), in the presence of Jayant Sinha, MoS for Finance, for supplementing Government’s efforts under ‘Fund-of-Fund’ operation for the Venture Fund industry. The …
SIDBI to raise Rs 10,000 Crore Stand up India fund corpus from RBI
The Small Industries Development Bank of India (SIDBI) will be raising the proposed Rs 10,000-crore corpus for ‘Stand Up India Fund’ from RBI, which will be disbursed to Dalit and women entrepreneurs, a top official said. “We are working to have the corpus in place for the Stand…
SIDBI provides Rs 1,100-crore risk capital assistance to 500 MSMEs
Small Industries Development Bank of India (SIDBI), the financial institution for promotion and financing of MSMEs, has extended risk capital assistance of close to Rs 1,100 crore to 500 MSMEs, it said in a statement on January 15. “Some of the successful assisted entities include – Wildcraft, Sm…
Start-up India has Rs 930-crore legs to stand on
The government’s `Startup India, Stand Up India’ programme seems to be gaining some momentum, with the Small Industries Development Bank of India (Sidbi) clearing Rs 930 crore from the Rs 2,000-crore fund-of-funds it launched in August to support venture capital funds. Sidbi’s I…