The country’s largest bank, State Bank of India’s (SBI), venture fund initiatives have been put on a fast track.
The bank’s investment banking arm, SBI Capital Markets (SBI Caps), is now in talks with global investors for setting up two more venture funds – a buy-out fund and an SME fund – as it formally announced launch of its maiden fund jointly with Softbank Investment, a part of Japan’s SBI Holdings group. The $100 million venture fund would target companies in the knowledge sector.
These two funds will be part of SBI Caps’ plans to get into risk capital space a in big way. SBI Caps was in discussion with global venture fund players having skills and financial strength.
The SME fund would seek to invest in medium-sized companies (with turnover Rs 25-400 crore) gearing up for becoming Rs 1,000 crore companies.
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