Rajasthan Venture Capital Fund secures 75 crore for Investment in IT sector

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Rajasthan Venture Capital fund, the investment arm of Rajasthan Assest Management Company has raised Rs. 75 crores for investment in IT sector.

..the new fund would undertake individual investment in the range of Rs one crore to Rs 25 crore. “The fund will provide both start-up and growth capital to companies with focus on IT/ITES, auto, biotech and other technology oriented industries – source

The contributors to this fund are Rajasthan State Industrial Development and Investment Corporation. (RIICO), Small Industrial Development Bank of India (SIDBI), United India Insurance(UIIC), General Insurance Corporation of India (GIC), Technology Development Board (TDB), GoI and State Bank Bikaner and Jaipur (SBBJ).

RVCF typically invests in Rajasthan and NCR based projects, however in exceptional cases it can consider a projects out-side Rajasthan and NCR – not sure whether it’s a legal constraint or a choice?

RVCF’s portfolio includes Home Store (India) Ltd., Liqvid e-Learning Services and Escotoonz Entertainment, Natural Technologies, Cyber Futuristics, Hiteshi Herbotech and Harbinger TechAxes.

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