SBICap ventures bag $25 Mn from European Investment Bank for its latest fund
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State Bank of India Group’s venture capital arm SBICap Ventures (SVL) has reportedly raised $25 Mn from European Investment Bank (EIB) for its Neev II Fund, which it plans to close at $118 Mn (EUR 100 Mn). The investment arm will raise the target amount from global as well as domestic investors. So far, the fund is backed by SBI, SIDBI, and the UK Government’s Department for International Development.