SIDBI explores easy financing options; starts MSME fund of Rs 200 cr
With the vision to provide easy financing options to MSMEs (micro, small and medium entrepreneurs), Maharashtra government has set up a venture capital fund of Rs 200 crore along with SIDBI (Small Industries Development Bank of India).
Ananta Sarma, MD and CEO of SIDBI Venture Capital said, "We have set up a separate fund, the Rs 200-crore SIDBI Social Venture Fund, to enable MSMEs in the state easy access to financing. The aim is to invest in firms to create a social impact on the common man.”
Maharashtra state will contribute Rs 75 crore towards venture capital fund, while rest will be raised from banks and other financial institutions. The fund will be registered with SEBI (Securities and Exchange Board) soon.
In the meantime, Maharashtra government will also come with a special industrial policy for MSMEs which offers necessary facilities and incentives to set up businesses in state.