India's IFCI to set up $32m social venture fund
Industrial Finance Corporation of India (IFCI), the country’s oldest development finance institution, has received a government mandate to set up a venture capital fund that will support economically disadvantaged groups.
Finance Minister P. Chidambaram said in his interim budget statement for 2014-2015 that the fund would receive initial capital of INR2 billion ($32.2 million) and promote entrepreneurship among the scheduled...
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