In line with the vision of Shri Narendra Modi, Honourable Prime Minister of India, the Hon’ble Finance Minister, announced creation of a Fund of Funds (FoF) for Micro, Small and Medium Enterprises (MSMEs) under the Atmanirbhar Bharat package on the 13th May 2020, to address severe shortage being faced by MSMEs in securing growth capital.Consequently, NSIC Venture Capital Fund Limited (NVCFL), a 100% subsidiary of The National Small Industries Corporation Limited (NSIC), a Mini-Ratna Corporation of Government of India under Ministry of Micro, Small and Medium Enterprises (MoMSME), Government of India, was incorporated.

The ‘Self Reliant India (SRI) Fund’ is launched as the first scheme of NVCFL.SRI Fund will employ a ‘Fund-of-Fund’ investment strategy wherein the Fund shall invest in SEBI registered Category I and Category II Alternative Investment Funds (“Daughter Funds”), which shall in turn invest in MSMEs. The Daughter Funds shall invest at least 5 times the amount of capital contribution received from SRI Fund (net of fees and expenses) in MSMEs, defined as per the MSMED Act.