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IVCF launches three new funds

In keeping with its core business of venture capital funding, IFCI Venture Capital Funds Limited (IVCF),  a subsidiary of IFCI on Monday announced the launch of  three new funds aimed at the emerging sectors of the economy.

The funds being launched are India Automotive Component Manufacturers Private Equity Fund with a target corpus of Euro 60 million or Rs 396 crores. It will be dedicated to investments mainly in Indian automotive component companies and other related sectors.

The next one is the India Enterprise Development Fund (IEDF), with a target corpus of Rs 250 crores to invest in knowledge based projects in key sectors of the Indian economy with outstanding growth prospects.

The last one is the Green India Venture Fund (GIVF), with a target corpus of Euro 50 million (or Rs 330 crores). The objective is to invest in commercially viable Clean Development Mechanism (CDM), energy efficient projects with an aim to reduce negative ecological impact and efficient usage of resources such as energy and power.

Source: NDTV Profit

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