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February 17th, 2008
SBI Capital to set up Rs 400-crore VC fund
Abstract:
SBI Capital Markets plans to set up a Rs 400 crore venture capital fund to invest in knowledge-based sectors in the country. Meanwhile, SBI Capital Markets has already entered into a 50:50 JV Softbank Investment Holdings Inc of Japan for the fund.
The India Knowledge Fund will target specific India sectors including IT, knowledge process outsourcing, clinical research outsourcing, nanotechnology, online and mobile businesses, environmental technology and alternative energy, SBI said in its letter of offer filed with Sebi for its forthcoming Rs 16,736-crore rights issue.
Source:
timesofindia.indiatimes.com
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