₹100-cr. venture capital fund to be set up
The Hindu
To facilitate rapid growth of small-scale enterprises, start-ups
A venture capital fund will be set up in the State with a corpus of ₹100 crore to facilitate the rapid growth of small-scale enterprises and start-ups. Finance Minister K.N. Balagopal announced in the revised budget that the fund would be mobilised by involving the Kerala Financial Corporation (KFC), Kerala State Financial Enterprises Ltd. (KSFE), Kerala State Industrial Development Corporation (KSIDC), Kerala State Co-operative Bank and commercial banks, and through the deposits of Non-Resident Keralites. The fund would aid fast-growing technical and non-technical enterprises. An experienced professional team would be formed to manage the fund. An amount of ₹1 crore has been earmarked for meeting the initial expenses of setting up the fund.
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