SBI Capital Ventures Ltd (SVL), an alternative asset management arm of State Bank of India group, will float two funds – Small and Medium Enterprises (Rs 4 billion) and Affordable Housing Fund (Rs 3.5 billion). This is part of plans to expand the portfolio of funds under SBI Caps Ventures, a subsidiary of SBI Capital Markets Ltd.
Both funds are targeting closure of fund in the second half of next financial year (2019 20). SME Fund will be broad-based fund covering manufacturing and services sector.
The affordable housing fund will focus on four metropolitan areas of Mumbai, Chennai, Kolkata and New Delhi as well as Pune, Ahmedabad, Hyderabad and Ahmedabad. It will pick up stake in special purpose vehicle for particular housing project.