CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)
Jhansi Castle, 4th floor, 7-Cooperage Road, Mumbai – 400 001.
Tel : 91-22-22021288, 22021330 Fax : 91-22-22026684.
E-mail : info@chemexcil.in
Website : http://www.chemexcil.in
EPC/LIC/SIDBI 21st October 2021
TO
ALL THE MEMBERS OF THE COUNCIL
SIDBI Ubharte Sitare Fund - Investing in Future Export Champions
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Dear Members,
We have received communication from the CEO, SIDBI Venture Capital Limited informing us about SIDBI Ubharte Sitare Fund- Investing in Future Export Champions.
We understand from the communication that, Hon'ble Union Finance Minister Ms. Nirmala Sitharaman had announced a fund for investing in export-oriented enterprises in February 2020 in her budget speech. The Ubharte Sitaare Fund was launched by her during August 2021.
The Fund has been conceptualised with a size of Rs. 250 crore with a green shoe option of Rs. 250 crore and is co-sponsored by SIDBI and Exim Bank of India. It is registered with SEBI as an Alternative Investment Fund. SIDBI Venture Capital Ltd. is the fund manager and would be screening enterprises for eventual investment.
In this regard, council has been approached by SIDBI Venture to circulate the enclosed document to the member-exporters which provides a brief on the Fund's investment thesis.
Members are requested to take note of this initiative/ go through the details and benefit from the same, if eligible. For any queries you may contact SIDBI Venture under copy to us for records.
Thanking you,
Yours faithfully,
Deepak Gupta
Acting Executive Director
CHEMEXCIL
http://chemexcil.in/uploads/files/SIDBI_Venture-_Ubharte_Sitare_Fund_related.pdf
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