SBICAP Ventures has signed a MoU with Ministry of External Affairs (MEA), India, for the establishment of the Trilateral Development Cooperation Fund (TDC Fund).
The TDC Fund, to be established as an AIF, will function as a “Fund of Funds" in accordance with the SEBI AIF Regulations. SVL will serve as the administrator-cum-advisor (Investment Manager) of the TDC Fund. The Fund can also support MEA in the future to make contributions to AIFs created in collaboration with other partner nations under the scope of trilateral development cooperation, similar to the Global Innovation Partnership (GIP) Fund.
The partnership between SVL and MEA is poised to help take Indian innovations beyond borders with support from the Government of India and will facilitate the growth of Indian enterprises across the world.