IFCI Venture Capital Funds Ltd
IFCI tower, 61 Nehru Place, New Delhi - 110019,
Tel : 91-11- 226230204, Fax : 91-11-26453348,
Email : deals@ifciventure.com, loans@ifciventure.com
Website : www.ifciventure.com
IFCI Venture was set-up in 1975, with the objective to broaden entrepreneurship base in India by providing risk capital mainly to first generation entrepreneurs under “Risk Capital Scheme” . In 1988, IFCI Venture launched “Technology Finance & Development Scheme”, to provide financial assistance for setting up projects aimed at commercialization of indigenous technologies.
In 1991, IFCI Venture took up management of a Venture Capital Fund named VECAUS-III, floated by UTI and IFCI to promote varied projects across industrial sectors of Indian geography. The VECAUS-III fund was closed in the year 2007 and outstanding portfolio companies were transferred to SUUTI. The Fund was officially closed through sale of portfolio in the year 2011-12.
The Ministry of Social Justice & Empowerment (MoSJ&E) entrusted Venture Capital Fund for Scheduled Castes (VCF-SC), Ambedkar Social Innovation Incubation Mission (ASIIM) part of VCF-SC, Venture Capital Fund for Backward Classes (VCF-BC) and Senior Ageing Growth Engine Fund (SAGE) fund to IFCI Venture Capital Fund Limited for management and implementation. Accordingly, IFCI Venture is managing these schemes and derives income from the fund management activities by way of management fee on the corpus/ outstanding amount of funds and by way of profit on these investments.
The VCF-SC including ASIIM and VCF-BC are distinctively designed & dedicated to promoting entrepreneurship among the Scheduled Castes as well as Backward Classes by providing concessional finance to them. Apart from above schemes, SAGE fund is setup with an objective to cater the companies (open category) which are working for the welfare and wellbeing of senior citizens.
Recently in February 2024, Ministry of Tribal Affairs (MoTA), Government of India, launched ‘Venture Capital Fund for Scheduled Tribes” (VCF-ST) and entrusted it to IFCI Venture for management. The initial corpus set up for Venture Capital Fund for Scheduled Tribes is Rs.50 crore. The objective of VCF-ST is to promote the entrepreneurship and Startups among the Scheduled Tribes.
IFCI Venture is presently managing following four (4) SEBI-registered private equity (PE) funds/Alternate Investment Funds (AIF):
| Sr No | Scheme | Introduced / Promoted by | Corpus |
|---|---|---|---|
| 1 | Venture Capital Fund for Scheduled Castes (VCF-SC) | MoSJE | Rs.750.00 Crore |
| 1.1 | Ambedkar Social Innovation Incubation Mission (ASIIM) as part of VCF-SC | ||
| 2 | Venture Capital Fund for Backward Classes (VCF-BC) | MoSJE | Rs.166.31 Crore |
| 3 | Senior Ageing Growth Engine Fund (SAGE) | MoSJE | Rs.21.52 crore |
| 4 | Venture Capital Fund for Scheduled Tribes (VCF-ST) | MoTA | Rs.50.00 Crore |
| Aggregate Corpus of Schemes under Management | Rs.987.83 Crore | ||
The Company has reported total net profit of Rs.1.21 Crore on total income of Rs. 98.57 Crore for the financial year ended March 31, 2024, including ECL reversal of Rs.46.15 Crore for Loans and investments. The Net Worth of the Company stands at Rs.173.45 Crore. As on March 31, 2024, IFCI Venture had a book-debt position of Rs.106.75 Crore (Rs.39.81 Crore after provisioning) and bonds & bank borrowings stands at Rs.2.21 Crores.