IVCF was set up by IFCI Limited (IFCI) in 1975 with the objective to broaden entrepreneurship base in India by providing risk capital to first generation entrepreneurs. With the crucial role IFCI played in the economic growth and development of the economy, setting up IVCF was a natural extension to diversify in the financial services space.
Today, India is at a crucial juncture of growth and development in the world economy. With the relative stagnation in the West and the visible shift in the world economic order, the Indian economy is set to play a vital role in the world economic growth. New ideas and concepts are being encouraged in various fields such as digitalisation, green energy, roads, waterways, e-vehicles, smart cities and urban infrastructure development through various policy initiatives of the Government such as Make in India and Start up India, and also create a great potential for skill development and employment. With the above initiatives, India has become a destination for investment and is attracting significant FDI into industry, infrastructure, service and technology sectors. IVCF is ready to partner the growth of these sectors and encourage new entrepreneurs to create future business conglomerates.
At IVCF and also IFCI Group, we completely understand the current economic environment & business needs of our clients and it is our endeavour to provide comprehensive financial products and services. At present, at IVCF, besides other funds, we manage the Venture Capital fund for Scheduled Castes (VCF-SC), which is a Government of India initiative of Ministry of Social Justice and Empowerment (MoSJE) having a corpus of Rs. 330 crores. Recently Government of India had mandated IFCI Venture to manage the ‘Venture Capital Fund for Backward Classes’ (VCF-BC) with a target corpus of Rs.200 crores. With a view to tapping further opportunities in PE/ VC space, IFCI Venture is in the process of raising the next round of funds viz. Small & Medium Enterprises Advantage Fund (SMEAF) and Green India Venture Fund II (GIVF-II).
We, along with the active support of the Government of India, are looking forward to build robust partnership with all the stakeholders in enhancing our quality of services and continue to be partners of growth for our Indian Economy and develop the young entrepreneurs.
Dr. E S Rao