Finance Ministry

Venture Capital Fund for Scheduled Castes Entrepreneurs

The Government of India has launched the Venture Capital Fund for Scheduled Castes’ with initial capital of Rs. 200 crore. IFCI Ltd. will act as Sponsor, Settler and Asset Management Company (AMC) / Nodal Agency to operate the scheme. The Venture Capital Fund for Scheduled Castes Entrepreneurs started for especially scheduled castes entrepreneurs considering with multiple objectives. The main objective behind introducing this scheme is to promote entrepreneurship among the scheduled castes and to provide concessional finance to them and to develop SC entrepreneurs economically. Under this scheme loan upto R .5 Crore and more than that is provided. Under the scheme, financial assistance upto Rs. 15.00 Crore for a period upto 6 years would be provided to the SC entrepreneurs.

Benefits of Venture Capital Fund for Scheduled Castes Entrepreneurs:

  • Venture Capital Fund for Scheduled Castes Entrepreneurs provides benefits as a loan for starting business or to set-up business to scheduled castes entrepreneurs
  • Under the scheme, financial assistance upto Rs. 15.00 Crore for a period upto 6 years would be provided to the SC entrepreneurs.
  • Financial assistance upto Rs. 5 Crore – Investment under this category shall be funded maximum upto 75% of the project cost and the balance 25% of the project cost will be funded by the promoters
  • Financial assistance above Rs. 5 Crore: Investment under this category shall be funded maximum upto 50% of the project cost. At least 25% of the project cost has to be financed by bank/other institutions. Balance 25% of the project cost will be funded by the promoters. The proposals forwarded by Banks or other financial institutions with sanction of 25% of the total project shall be considered. In this case, the projects shall have to be compulsorily.
  • Concessional finance assistance is provided

Required eligibility and conditions for applying Venture Capital Fund for Scheduled Castes Entrepreneurs:

  1. The project candidate wants to set up should be related manufacturing and services sector ensuring asset creation
  2. While selecting the SC entrepreneurs, Women SC entrepreneurs would get preference
  3. Companies having at least 60% stake holding by Scheduled Caste entrepreneurs for the past 12 months with management control are eligible for availing loan
  4. Applicant must belongs to Scheduled Caste and residence of India
  5. The companies applying for assistance of more than Rs. 5 Crore shall preferably get their project appraised by the banks / FIs before approaching for assistance under the scheme
  6. For companies with sanctioned assistance of above Rs. 5 Crore, the money released by the Trust/ Fund Manager would be in proportion to the loan tranche released by the bank
  7. The SC promoters of Investee Company will not dilute their stake below 60% in the company till the exit under the scheme
  8. A prior written approval from Asset Management Company (AMC) would be required

Document required for applying Venture Capital Fund for Scheduled Castes Entrepreneurs:

  1. Document required for applying this scheme are not mentionable, because variety of documents need to submit like e.g. statutory documents of company, Market & Competition etc. So that to get complete details of documents do visit next mentioned link: http://govinfo.me/wp-content/uploads/2016/08/Brochure.pdf

Application procedure:

  1. Those candidates who wish to apply of loan under this scheme can fill online application form over next link: http://www.ifciventure.com/Venture-Capital-Fund-for-Scheduled-Castes.aspx
  2. Along with proper document

Contact Details:

  1. IFCI Limited IFCI
    FCI Tower, 61, Nehru Place
    New Delhi – 110019
    Ph.: +91-11-4179 2800 / 2648 7444
    E-mail: helpdesk@ifciltd.com
    Website: www.ifciltd.com
  2. IFCI Venture Capital Funds Limited
    IFCI Tower, 61, Nehru Place
    New Delhi – 110019
    Ph.: +91-011-26453359/43
    E-mail: funds@ifciventure.com
    Website: www.ifciventure.com

References & details:

  1. For more details regarding documents and other help please visit official website: http://govinfo.me/wp-content/uploads/2016/08/Brochure.pdf
  2. http://www.ifciventure.com/Venture%20Capital%20Fund%20For%20Scheduled%20Castes
  3. http://www.ifciventure.com/pages/by4hm8ur/90/Frequently-Asked-Questions-VCF-SC.pdf
  4. Contacthttp://www.ifciventure.com/Careers-Contact%20Us
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