ABOUT SBICAP VENTURES
SVL is a 100 % subsidiary of SBI Capital Markets Limited.
SBICAP Ventures Limited (SVL) is a company incorporated under the provisions of Companies Act, 1956 with CIN U67190MH2005PLC157240 with effect from 10th November, 2005.
SBICAP Ventures Limited has launched an Infrastructure Fund and shall also act as Investment Manager and Sponsor to NEEV Fund which has received commitment of INR equivalent of GBP 36 mn from Department of International Development (DFID), United Kingdom. SVL has also committed INR equivalent of USD 10 mn , State Bank of India has also committed Rs 60 crore subject to overall cap of 10% of fund size.
Focused On Infrastructure Sub-sectors
focused on infrastructure sub-sectors such as urban infrastructure (e.g. water and sanitation, solid waste management), renewable energy (e.g. solar, wind, hydro, bio-mass energy), agricultural supply chain (e.g. warehouses, cold storages) and state/district roads
8+ Developing States
The Fund will primarily invest in 8 low income states/developing states in India (viz. Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, Uttar Pradesh and West Bengal).
Neev Fund – Details(Fund Size and Term)
- Fund size: Initial close of INR 470 Cr achieved in April 2015.
- Investment Period: 2 years from first close (extendable by 1 year).
- Fund life: 8 years from final closing (extendable by upto 2 years).
Investors
- State Bank of India.
- Department for International Development (DFID) UK.
- SBICAP Ventures Ltd: Also the Investment Manager to the Fund.
Cornerstone Investors
State Bank Of India
- Largest bank in India with an asset size of ~USD 380 bn
- Largest infrastructure lender in the country with infrastructure lending of >USD 20 bn across all sub-sectors of infra projects.
DFID(Department For International Development)
- A department of the British Government and a part of the British High Commission in India.
- Responsible for implementation and administration of the United Kingdom’s development co-operation programme for India.
SBICAP Ventures Ltd
Wholly Owned Subsidiary of SBI Capital Markets (100% subsidiary of State Bank of India
Key Management Team
Ambalika Banerji
CEO & CIO
Over 25 years of infrastructure experience in Asia (across PE, IB, Debt financing / advisory)
Previously set up and raised US$1bn+ for the Macquarie SBI Infrastructure Fund and invested close to half the fund
Before Neev fund, she was advising DEA, Government of India on Infrastructure development
Master’s in Financial Management from JBIMS (Mumbai) and a Bachelor of Science in Microbiology from Bombay university
Ashish Jain
Principal Investment Officer
Over 12 years of financial services experience in Asia and the UK (across PE, Corporate Finance and Commercial Banking).
Previously worked as a Director with Standard Chartered Private Equity, India where he was focused on infrastructure investments from the bank’s balance sheet and a third party pan-Asia Infra fund.
MBA from IIM (Calcutta), Bachelors of Science in Mathematics from St Stephens, Delhi.
Other team members comprise of individuals with corporate finance experience in the Indian infrastructure sector.
Board Of Directors
Ms. Varsha Purandare
Chairperson
Mr Dinesh Kumar Khara
Director
Mr V. Muralidharan
Director
Mr Rajat Misra
Director
Mr Mohan Harshey
Independent Director
Ms Divya Mehrotra
Independent Director
Mr Ashwani Bhatia
Whole time Director & CEO