UK India Development Cooperation Fund (UKIDCF), is a Fund of Funds platform which has accepted commitments from the UK Government and SBI Cap Ventures Limited (SVL). The investment objective of the Fund will be to carry on the activity of a Category II AIF – fund of funds, as permissible under the AIF Regulations, for making portfolio investments focussed on achieving UK – India development cooperation objectives as identified in the UK India 2030 Roadmap. Subject to AIF Regulations and Applicable Law, the Fund shall seek to achieve its investment objectives by investing substantially all of its assets in permitted Portfolio Entities, i.e. Category I AIFs and Category II 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 SDGs.
The Fund has accepted commitments from the UK government and SBICAP Ventures Limited (SVL). It may accept commitments from other investors interested in the capital investments for development purposes with a double bottom-line motive for economic development in future.
Please refer to https://www.ukidcf.com/investors-overview/ for details.
The investment manager for UKIDCF is SBICAP Ventures Limited.
The term of the Fund will be 25 years with a target fund size of upto GBP 500 million.
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:
The detailed steps for investment process are highlighted in the “Investment Process” section of the UKIDCF website