IFCI Venture Capital Funds (IVCF), the venture capital arm of IFCI, is planning to invest Rs 100 crore in startups over the next nine months. The firms previous investee firms include Jagdish Khattar-led Carnation Auto.
The Rs 1,400 crore-group is identifying potential startups in the energy efficiency and renewable/non-conventional energy sectors. The venture firm recently invested Rs 1.75 crore in Regent Energy to pick up 15% stake. Regent Energy aims to set up a hydro power plant in Himachal Pradesh to produce 5 MW of capacity.
The target sectors for the VC are varied. It is keen to invest in areas spanning equipments, industrial process, lighting, building materials, energy storage, waste management, pollution control, transportation as well as forestation and reforestation activities.
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