Canbank Venture Capital Fund houses Electronic Development Fund

Q.  Who is housing the Electronic Development Fund?
- Published on 16 Feb 16

a. SBI
b. Canbank Venture Capital Fund
c. ICICI Mutual Funds
d. Venture Catalysts Fund

ANSWER: Canbank Venture Capital Fund
 
  • The Electronics Development Fund to support early-stage, angel, venture and private equity funds focusing on electronics, nano-electronics and information technology is launched.
  • The government has appointed Canbank Venture Capital Fund to house the Electronic Development Fund in 2015. The fund has an initial corpus of Rs 2,200 crore.
  • The Electronics Development Fund is set up as a ‘Fund of Funds’ to participate in ‘Daughter Funds’, which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and IT.

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