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15/03/22 12:21 PM IST

North Eastern Development Finance Corporation

In News 
  • North Eastern Development Finance Corporation Ltd. (NEDFi), has organized a Startup Investment Festival, 2022 from 15.02.2022 to 15.03.2022.

Details 
  • This event will provide a platform to local entrepreneurs to showcase their business ideas and to pitch for investment through access to capital for scaling up their businesses.
  • It will also help them avail other facilities like handholding support, advisor network, investor network, marketing support etc.
  • The reason for organizing this event is to reach out to start-ups and first generation entrepreneurs of North Eastern Region (NER) and boost the start-up ecosystem in the region.
About North East Venture Fund 

  • North East Venture Fund (NEVF) is a dedicated venture fund for the NER promoted by NEDFi, Ministry of Development of North Eastern Region (MDoNER) and Small Industries Development Bank of India (SIDBI).
  • It was launched in September, 2017 with a corpus of Rs. 100 crore, with contributions of Rs. 45 crore as interest free loan from MDoNER, Rs. 30 croreby NEDFi itself and Rs. 25 crore from SIDBI.
  • It is registered with Securities Exchange Board of India (SEBI) under SEBI (AIF) Regulations, 2012, as a sector agnostic fund. 
SOurce- PIB 

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