Canbank Venture Capital Fund Ltd (CVCFL), the Investment Manager of the Fund, is a wholly owned subsidiary of Canara Bank. CVCFL is one of the earliest Venture Capital management companies in India. CVCFL is an India centric, Growth Capital Venture Capital Fund, with over two decades of experience in the Venture Capital / Private Equity industry in India.
The Fund has invested in several promising companies, partnered progress and posted successful exits. The Fund invests in businesses with an established technological or market positioning edge and good growth potential. CVCFL's professional & multi-functional team has a hands-on, pragmatic and operational approach to value creation and building of businesses.
Canbank Venture Capital Fund Ltd has also been assigned the role of Fund Manager to house the Electronics Development Fund (EDF) by Ministry of Electronics & Information Technology, MeitY, GoI
As part of the "Digital India" agenda of the Government of India and to develop the Electronics System Design and Manufacturing (ESDM) sector so as to achieve "Net Zero Imports" by 2020. EDF was setup by GoI as Fund of Funds.
The "Fund of Funds' Scheme viz., Electronics Development Fund ("EDF") with a corpus of INR 2206 crs with Canbank Venture Capital Fund Limited as the Investment Manager was launched in February 2016. The Objective of Electronic Development Fund (EDF) is to provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT). The EDF will also help attract venture funds, angel funds and seed funds towards R&D and innovation in the specified areas. It will help create a battery of Daughter funds and Fund Managers who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.
Canbank Venture Capital Fund is in the process of setting up of Sixth Fund of CVCFL viz., EMPOWER INDIA FUND" (EIF) with a target corpus of Rs.650 Crs. Private Placement Memorandum (PPM) is filed with SEBI. First closing is scheduled before 31-03-2017.
Smt. P.V. Bharathi is the Executive Director of Canara Bank. She is Postgraduate in Arts, Bachelor of Education & Certified Associate of Indian Institute of Bankers and a Diploma in Management. She has over 33 years of experience in Banking and has worked in various banking facets.
Shri. S Subramanian, General Manger, Canara Bank is now heading Corporate Credit Wing of Canara Bank. He holds a Bachelor degree in Science (BSc.), Diploma in Computer Applications and Diploma in Company Law. He is also a Certified Associate of Indian Institute of Bankers. He has an experience spanning over 36 years in domestic and international banking operations, investments, MSME and large corporate credits, risk management. He has extensive exposure in the field of credit which includes credit assessment, project appraisal, loan syndication, credit monitoring, overseas banking operations and investments.
K.Baskaran is the Managing Director of Canbank Venture Capital Fund Ltd. He holds a Post Graduate degree in Agriculture with specialization in Agriculture Economics from Tamil Nadu Agricultural University in the year 1983 and has completed Diploma in Computer Applications from NIIT. He is also a Certified Associate of Indian Institute of Bankers. He has an experience spanning over 32 years within domestic and international banking operations, investments, factoring activities, risk management and private equity. He has extensive exposure in the field of credit portfolio which includes credit assessment, project appraisal, loan syndication, credit monitoring, overseas banking operations, investments, factoring activities, etc.