Exim Bank to launch venture capital fund
25 July 1999
Many banks in India are venturing
into new areas related broadly to their existing areas
of operations. The Export Import Bank of India is one
of them. The area it has chosen: venture capital. Later
it plans to enter merchant banking and other value added
To begin with,
Exim Bank will fund information technology and pharmaceutical
projects through the venture capital route. It sees these
as the only viable investment avenues for the moment.
You may have
guessed it -- the focus will be on export-oriented companies.
The bank will start with an initial corpus of around Rs.100
crore. It is scouting for a partner among non-banking
is also one of the agencies appointed for financing jute
and textile companies under the Technology Upgradation
Fund. It has also tied up with the Housing Development
Finance Corporation for dollar funds which it can use
to fund companies that are into project exports.
and value-added services that Exim Bank provides or are
in its pipeline are corporate advisory services, identification
of technology suppliers, identification of potential markets,
developing joint ventures in India and abroad, and helping
companies in the selection of equity partners.
currrently has a slew of lending and service programmess
for Indian exporters, banks and overseas companies.
For more details click here.
Exim Bank basic information
of reports on Exim Bank