Rajasthan Asset Management Company today announced the launch of a Rs.100 crore fund for innovative projects in SME sector in India with focus on National Capital Region and Rajasthan.
Inaugurating the Fourth National Conference on Venture Capital Finance at Jaipur, and launching the fund, Shri Narpat Singh Rajvi, Minister-Industries, Government of Rajasthan assured all possible help from State Government to the new fund.
On the occasion, Mr. Kuldeep Ranka, MD RIICO and Chairman, Rajasthan Asset Management Co. Pvt. Ltd. (RAMC) said, “The fund has already received commitment of Rs.30 crores from the principal sponsors RIICO and SIDBI. Balance funds shall be pooled by identified institutional investors. With the launch of this fund, the innovative and other knowledge driven start-up companies will get lot of boost in National Capital Region.”
Mr. Girish Gupta, CEO of the fund said, “We look forward towards young entrepreneurs who have innovative ideas and a desire to translate them into large commercial ventures.”
Shri Rakesh Riwari, Dy. Managing Director, SIDBI delivered the keynote during the conference. Maharaj Jai Singh, President State Council of FICCI delivered the welcome address. The conference which was jointly organized by RAMC and FICCI was attended by over 250 delegates from various parts of the country.
About Rajasthan Venture Capital Fund
Rajasthan Venture Capital Fund (RVCF), based in Jaipur, is Rajasthan’s first venture capital fund, mandated to operate on pan India basis. It has been conceptualized and supported by the Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) and the Small Industries Development Bank of India (SIDBI). RVCF is focused on small and medium sized companies in the field of IT/ITeS, Bio-technology, Retail, Tourism, Hospitality and Entertainment sectors.
Established in 2002, RVCF have an active investment portfolio of eight companies, principally in Rajasthan and National Capital Region i.e. Delhi, Noida, Gurgaon etc., one of the most vibrant areas for new technology and innovative enterprises. The present corpus is invested in diversified sectors viz. IT/ITeS, Multimedia, Retail and Bio-Pharma. RVCF provides managerial support besides financial support to these companies.
Rajasthan-based companies in our portfolio include Natural Technologies, Cyber Futuristics, Hiteshi Herbotech and Harbinger TechAxes. Our NCR based companies include Home Store (India) Ltd., Liqvid e-Learning Services and Escotoonz Entertainment.
About Rajasthan Asset Management Company Pvt. Ltd. (RAMC)
Rajasthan Asset Management Company Private Limited (RAMC) manages the fund. RIICO, SIDBI, Private IT Companies, Bank of Rajasthan and employees are its shareholders. New investment proposals are received, processed and followed by RAMC.
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