IFCI Venture Capital Funds Ltd.
IFCI Venture Capital Funds Ltd. (IFCI Venture) was originally set up by IFCI as a Society by the name of Risk Capital Foundation (RCF) in 1975 to provide institutional support to first generation professionals and technocrats setting up their own ventures in the medium scale sector through soft loans, under the Risk Capital Scheme. In 1988, RCF was converted into a company, Risk Capital and Technology Finance Corporation Ltd. (RCTC), when it also introduced the Technology Finance and Development Scheme for financing development and commercialisation of indigenous technology. Based on IFCI Venture's credentials and strengths, UTI entrusted it with the management of a new venture capital fund named Venture Capital Unit Scheme (VECAUS-III) in 1991. The size of VECAUS-III was ` 80 crores, contributed by UTI and IFCI. To reflect the shift in the company’s activities, the name of RCTC was changed to IFCI Venture Capital Funds Ltd. (IFCI Venture) in February 2000.
Over the years, IFCI Venture acquired expertise and experience of investing in technology-oriented & innovative projects. Since its inception, it has provided finance to over 350 ventures and supported commercialization of over 50 new technologies. It has pioneered effort for widening entrepreneurial base in the country and catalysed the introduction of Venture Capital activity in India. IFCI Venture Capital Funds Limited (IFCI Venture) has launched three new funds in emerging sectors of the economy namely:
India Automotive Component Manufacturers Private Equity Fund–1-Domestic (IACM-1-D) with a target corpus of Euro 60 million equivalent to ` 396 crore. This Fund will be dedicated for investment mainly in Indian Automotive Component companies and in other related/ emerging sectors.
India Enterprise Development Fund (IEDF), a Venture Capital fund set up with target corpus of ` 250 crore to invest in knowledge based projects in key sectors of Indian economy with outstanding growth prospects.
Green India Venture Fund (GIVF), a Venture Capital fund set up with a target corpus of Euro 50 million (approx. ` 330 crore) with the objective to invest in commercially viable Clean Development Mechanism (CDM), energy efficient and other commercially viable projects with an aim to reduce negative ecological impact, efficient usage of resources such as energy, power etc and other related sectors/projects.
IFCI Venture has already received in principle approval from SEBI for the three funds. IFCI Venture with its background & experience is confident of generating good returns out of these funds.