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.
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) and shall be focused on infrastructure sub-sectors such as urban infrastructure (e.g. water and sanitation, solid waste management etc.), renewable energy (e.g. solar, wind, hydro, bio-mass energy, etc.), agricultural supply chain (e.g. warehouses, cold storages etc.) and state/district roads.