GS-2
4. NORTH EAST VENTURE FUND (NEVF)
IMPORTANT POINTS:
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- It is the first and the only dedicated Venture Fund for the North Eastern Region.
- The Venture Fund Scheme launched by the Ministry of Development of North Eastern Region (DoNER) intended to promote growth of business ventures and skill development in the region.
- The Fund was formed by the Ministry of DoNER and the North Eastern Development Finance Corporation Ltd 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 North East Venture Fund (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.
SOURCE: PIB