Connect with us

Hi, what are you looking for?

News

Canara Bank plans 6th venture capital fund

Canara Bank is gearing up to launch its sixth venture capital fund with a targeted corpus of Rs 500 crore, similar to its fifth fund which is expected to be drawn down by September 2014. The bank manages the venture capital fund through a wholly-owned subsidiary Canbank Venture Capital Fund which was set up during late 1989. This company was actually looking at raising its sixth fund with a corpus of Rs 1,000 crore but this plan was shelved. This development comes at a time when the SMEs (small & medium enterprises) are finding it tough to raise resources in the marketplace and Canbank Venture, which looks at funding SMEs primarily in the manufacturing segment, may stand to gain.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't miss our updates on your email

Subscribe to our Newsletter

PR Newswire