UK India Development Cooperation Fund is focused on achieving UK-India development cooperation objectives as identified in the UK-India 2030 Roadmap. The Fund aims to achieve its investment objectives by investing substantially all of its assets in SEBI registered Category I and Category II Alternative Investment Funds (AIFs) which seek to invest in, or are engaged in, sectors that promote sustainable economic development, help reduce poverty and contribute towards achievement of India’s Sustainable Development Goals.
The Fund will be sector agnostic and is expected to invest in portfolio entities which invest in themes where investments are being piloted and new business models are emerging. These investments may include areas/ priorities agreed from time to time by the UK and Indian governments for development cooperation between the two countries and on shared themes internationally like climate and environment. This may include investments in climate, clean energy, startups, emerging technology sectors, innovation led businesses, urban infrastructure & services, green businesses and others.
The Fund has accepted commitments from the UK Government and SBICAP Ventures Limited (SVL).
The Fund is also managed by SVL. It may accept commitments from other investors interested in capital investments for development purposes with a double bottom-line objective for economic development in the future.
UKIDCF will invest in various Investment Programmes aligned with development cooperation priorities between the United Kingdom and India.
The goal is to invest in Portfolio Entities consistent with the themes of these approved Investment Programmes. The Fund will focus on investments in Portfolio Entities, i.e. Category I AIFs and Category II AIFs that will lead to: