SBICAP Ventures launched SME affordable housing funds

The funds will be deployed in at least seven to eight projects, approximately Rs 35-50 crore in each project.

Updated: Nov 20, 2018 10:08:54 am

20 November 2018 Current Affairs:SBICAP Ventures (SVL), an alternative asset manager and a wholly owned subsidiary of SBI Capital Markets, launched two funds for the small and medium enterprises (SMEs) and affordable housing sectors. 
The 2 funds are:
Small and Medium Enterprises: to raise a corpus of Rs 4 billion and
Affordable Housing Fund to raise a corpus of Rs 3.5 billion.
It will be an equity fund and there will be two anchor investors – SBI and SBI CAP/SVL putting in 10 percent and 10-12 percent respectively.
Both funds are targeting closure of fund in the second half of next financial year (2019-20).
In the initial phase, the affordable housing fund will focus on 8 cities – Mumbai Metropolitan Region, National Capital Region, Kolkata, Bengaluru, Chennai, Hyderabad, Ahmedabad and Pune.
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