UKIDCF Investors’ Overview
The Government of United Kingdom is responsible for promoting the interests of British citizens, safeguarding UK’s security, defending their values, reducing poverty and tackling global challenges with international partners.
The development cooperation partnership between India and the UK aims to generate jobs, stimulate growth, investment and prosperity in both the countries.
Among other initiatives, this includes channelizing risk capital in private enterprises with an objective of development and financial returns.
SBICAP Ventures Limited (SVL)
SBICAP Ventures Limited (SVL) is the flagship alternative asset management arm of State Bank of India and is a wholly owned subsidiary of SBI Capital Markets Limited. It manages capital for both direct and fund of fund investments.
Direct funds managed by SVL include Neev, SVL-SME Fund (Neev II) & Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund. Neev was launched by Honourable Prime Ministers of the two countries viz. India (Mr. Narendra Modi) and UK (Mr. David Cameron) for making investments in 8 low-income states in India and has successfully invested in ten portfolio companies in the target states. Neev II targets’ investments in start-ups and SMEs focusing on climate, environment and sustainability. SWAMIH Fund provides last-mile funding to enable construction of stressed housing projects.
SVL has also been chosen as fund manager for Self-Reliant India Fund, a Fund of Funds being floated by Government of India for investment in MSMEs with a corpus of INR 10,000 Cr.