ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 19 April. Click Here for more information.
ForumIAS Answer Writing Focus Group (AWFG) for Mains 2024 commencing from 24th June 2024. The Entrance Test for the program will be held on 28th April 2024 at 9 AM. To know more about the program visit: https://forumias.com/blog/awfg2024
News:The Government has informed the Parliament that North East Venture Fund(NEVF) has disbursed over Rs.18 crore to 12 start-ups till February,2020.
Facts:
About NEVF:
- Launched in 2017 by the North Eastern Development Finance Corporation Limited(NEDFi) in association with the Ministry of Development of North Eastern Region(M-DoNER).
- Aim:To contribute to the entrepreneurship development of the NER and achieve attractive risk-adjusted returns through long term capital appreciation by way of investments in privately negotiated equity related investments.
- It focuses on startups in five sectors namely a) food processing b) healthcare c) tourism d) aggregation of services and e) IT and IT-enabled services.
- It is a close ended fund with capital commitment of Rs 100 crore.Each investment will be limited to a minimum of Rs.25 lakh and a maximum of Rs.10 crores with long term investment horizon of 4-5 years.
Additional information:
About NEDFi:
- North Eastern Development Finance Corporation Ltd (NEDFi) was incorporated as a public limited company under the Companies Act, 1956 in 1995.
- It is also categorized as Non-Banking Financial Company(NBFC)-Loan Company and was registered with the Reserve Bank of India (RBI) in 2002.
