India contemplates fund for minorities

The vehicle would focus on minorities and depressed classes in the country, though a similar initiative launched in 2012 failed to attract investment.

The Indian government is exploring a venture capital fund aimed at minorities and depressed classes, VC Circle wrote yesterday citing reports in the Economic Times.

The fund, the size of which has not been revealed, would support entrepreneurs from backward castes, scheduled tribes and other minorities. The government has not released details about the initiative yet.

If it goes ahead, the fund would follow the DICCI SME Fund, launched in 2012 and targeted at scheduled tribes, the lowest caste. That fund secured an initial commitment of Rs100m ($1.5m) from Small Industries Development Bank of India, with a target goal of Rs5bn over ten years, but failed after three years when it had only secured Rs500m and was shut down.

See more from this Government Report: India

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