In its meeting of March 6, the FIPB has approved SIDBI Social Venture Trust, Mumbai to allot Class A units of the fund to bring foreign investment worth Rs.285 crore.
SIDBI Venture Capital Limited, a wholly owned subsidiary of Small Industries Development Bank of India (SIDBI), is setting up a social venture capital fund with SIDBI and DFID as sponsors with a target corpus over 300 crore.
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