CANBANK Venture Capital Fund to set up EDF Policy
Q. Which company was appointed as implementation agency of Electronics Development Fund Policy on 21st September 2015?- Published on 23 Sep 15a. The CANBANK Venture Capital Fund Ltd
b. The TECHBANK Venture Capital Fund Ltd
c. The INNOVATION BANK Venture Capital Fund Ltd
d. None of the above
ANSWER: The CANBANK Venture Capital Fund Ltd
The Electronic Development Fund (EDF) is set up as a Fund of Funds to participate in Daughter Funds that will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT).
With the appointment of CVCFL as the agency to implement EDF, the EDF is now operational and will start getting requests for participation from Seed Funds, Angel Funds and Daughter Funds. Beneficiaries of EDF policy are Daughter Funds registered in India and EDF will follow minority participation in Seed Funds, Angel Funds and Venture Funds.
