North East Venture Fund (NEVF) gains popularity
Part of: GS Prelims and GS-III – Economy
- The North East Venture Fund (NEVF) is gaining popularity among Start-Ups and young entrepreneurs.
Important value additions
- The Ministry of Development of North Eastern Region (DoNER) had joined with North Eastern Development Finance Corporation Ltd (NEDFi) to set up the North East Venture Fund.
- It the first and the only Venture Fund for Northeast with an initial corpus of Rs. 100 crores.
- The fund targets to invest in Start-Ups and unique business opportunities to provide resources for new entrepreneurships.
- The main focus of NEVF is for mostly the enterprises involved in Food Processing, Healthcare, Tourism, segregation of services, IT, etc.
- The investment size with the Venture Fund Scheme ranges between Rs.25 lakhs and Rs. 10 crores with a long term horizon of five to ten years.