SIDBI Venture Capital raises Rs 285 Cr


Homegrown venture capital firm SIDBI Venture Capital Limited (SVCL) announced the fund of Rs 285 crore for its Rs 500 crore Ubharte Sitaare Fund (USF).

USF is an MSME-focused CAT II AIF that is looking forward to utilizing the funds in investment in Indian companies that have a motive to expand globally and increase their export business.

The funding round got registered in July 2021 and is co-sponsored by the Small Industries Development Bank of India (SIDBI) and India Exim Bank. It is supported by leading Indian banks and financial institutions, including Punjab National Bank, Bank of Baroda, Bank of India, Union Bank of India, Indian Overseas Bank, UCO Bank, and Self Reliant India fund.

Ubharte Sitaare Fund is a sector-agnostic fund, making growth stage investments across manufacturing and servicing companies in sectors such as pharmaceuticals, biotech, SaaS, edtech, value-added manufacturing, specialty chemicals, consumer brands, etc.

In the current stage, SVCL manages assets under management (AUM), valuing more than Rs 2,000 crores. The company has invested in companies named Billdesk, Manthan Software, ESAF Finance, Caspian Impact, True Elements, M1Xchang, Momspresso, Stovekraft, etc.

SVCL is one of the oldest domestic venture capital funds in the country, a wholly-owned subsidiary of SIDBI, has also got additional funds under its portfolio. It manages Rs 10,000 Funds of Fund — a Government of India initiative to invest in startups.


S P Singh, CEO, SIDBI Venture Capital Limited, said, “SVCL has always strived to provide the support to Indian entrepreneurs in their endeavors to create a successful and globally competitive business from India. With the launch of USF, we want to be a partner in companies' journey to expand and grow in overseas markets, becoming globally successful companies, contributing to export growth of our country, and helping in realizing the dream of the $5 trillion economy.”


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