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Neev Fund

SBICAP Ventures Ltd. is an alternative asset manager based in India and is a wholly owned subsidiary of SBI Capital Markets Limited. It manages the Neev Fund.

Chief Investment Officer (NEEV Funds) & Head – Fund of Funds

Mr. Akshay Panth

Principal Investment Officer (NEEV Fund)

Jai Shah

Chief Investment Officer (NEEV Funds) & Head – Fund of Funds

Mr. Akshay Panth

Akshay has close to 2 decades of experience in Private Equity, Principal Investments and Advisory roles with leading domestic and international investors. He started his career with the India Infrastructure Fund (a c.US$1Bn Infrastructure Fund managed by IDFC Alternatives) and has since worked with multiple private equity and principal investors. His previous experience includes working with CapAleph Private Equity, GMR Infrastructure, and MAPE Advisory Group.

At CapAleph, he handled the Infrastructure Support Services and Education & Skill Development segments for the Fund. At GMR Infrastructure, he was part of the Project Finance team working on the road sector where he submitted multiple bids to the NHAI. He has been part of teams that have invested over US$100Mn in the Indian infrastructure space.

Akshay holds a bachelor’s degree in Commerce and PGDM/MBA.

Principal Investment Officer (NEEV Fund)

Jai Shah

Jai has over a decade of experience across Fund Management, Strategic Advisory, Equity Research and Investment Banking working with Kitara Capital, AltFort Capital. He has executed various deals in the Private Equity and Investment Banking space. He has been also involved fund raising, fund formation and strategic advisory roles.

Jai holds a bachelor’s degree in Commerce and MBA in Finance.

Neev Fund

  • Neev Fund was conceptualized and launched in 2015 by Hon. Prime Ministers of India (Mr.Narendra Modi) and UK (Mr. David Cameron) to catalyze investment in Indian states which have traditionally not received private investments. The output envisaged from this initiative was creating a model for sustainable development that can provide economic, social and environmental benefits and create jobs in the eight low income states of India.
  • Since its inception, the Neev Fund has identified and successfully invested in ten portfolio companies in the target states. The Fund now almost completely committed and its investments into companies has led to significant impact at the grassroot level. The Neev Fund portfolio companies employ over 6,000 people and have demonstrated a waterfall effect on the value chain that the companies operate in.
  • Established as a contributory trust in 2014 Neev Fund is a INR 5,040 million fund focused on making investments in 8 of the low income states in India i.e Rajasthan, Madhya Pradesh, Uttar Pradesh, Bihar, Chattisgarh, Jharkhand, Odisha and West Bengal. The primary objective of the Neev Fund is to create sustainable development which will provide economic, social and/or environmental benefits and create jobs in the target states. The Fund is registered with he Securities and Exchange Board of India (“SEBI”) as a Category I Alternative Investment Fund – Infrastructure Fund (“Category I Infra AIF”) under the provisions of the SEBI (Alternative Investment Fund) Regulations, 2012 (“AIF Regulations”) The sponsor and investment manager of the Fund is SBICAP Ventures Limited.
  • The Fund has raised capital commitments from State Bank of India (“SBI”), the Department of International Development – United Kingdom (“DFID”) and Small Industries Development Bank of India (“SIDBI”) as the contributors of the Fund and from SBICAP Ventures Limited as its Sponsor.

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