IFCI- ASIIM

IFCI Venture was set-up in 1975 by your Company with the objective to broaden entrepreneurship base in India by providing risk capital mainly to first generation entrepreneurs under “Risk Capital Scheme”. In 1988, IFCI Venture launched “Technology Finance & Development Scheme”, to provide financial assistance for setting up projects aimed at commercialization of indigenous technologies.

The “Venture Capital fund for Scheduled Castes” (VCF-SC), is a Government of India initiative of Ministry of Social Justice and Empowerment (MoSJE) being the implementing agency. VCF-SC is a first of its kind Venture Capital Fund in India dedicated to promote entrepreneurship among the Scheduled Castes by providing concessional finance to them. During the year, Government contributed an amount of Rs.40 crore for VCFSC fund. As a result the corpus of VCFSC fund has increased to Rs 330 crores. Recently Government of India had mandated IFCI Venture to manage the ‘Venture Capital Fund for Backward Classes’ (VCF-BC) and Rs.10 crore initial corpus has been received.