SIDBI approves $29m in commitments

The Lucknow-headquartered Indian development financial institution has backed four venture funds.

The Small Industries Development Bank of India (SIDBI) has committed INR2 billion ($29 million, €24.75 billion) to Omnivore Partners India Fund 2,  TVS Shriram Growth Fund 3, IQ Alpha III and Capaleph Indian Millennium SME Fund.

The INR 796.8 billion Lucknow-headquartered Indian development financial institution has a current allocation to private equity strategies of about 5 percent.

Platinum subscribers may click here for the SIDBI’s full profile, including key contacts, allocation strategy and fund investments.