In recent years, the Domestic Venture Capital market has considerably changed. Whole credit of this positive transformation in the capital market goes to the overseas cash inflow.
Last Year, Manish Singhal, a venture capitalist was searching for means to increase the funds for his first venture. It was at that time, he thought that he has started on a complicated task. Manish Singhal, co-founder of Letsventure, a platform for business startups looking for financing help. When he was directly or indirectly engaged in his business, SIDBI, Small Industries Development Bank of India approached him to invest in his financing firm.
Singhal really appreciated this gesture of SIDBI, as the bank trusted his company at the time when he himself was least confident about it. As of now, his business has expanded to a level that his company has commitments from various overseas individual, local individuals, and investments in startups like Flipkartbacker Accel India.
SIDBI understood Singhal’s startup financing platform and helped him get success flawlessly. The best part of SIDBI is that Singhal is not alone in the race; SIDBI has extended help to various other small scale Industries and business startups.
Let us now look at other entrepreneurs who are looking after SIDBI for funding: Rema Subramanian, a business startup, and Manager who is looking for first time funding for his Rs 60 crore Ankur Capital, one of the partners of Joint firm called Stellaris. This is a joint venture firm driven by Ex-executives of Helion that considers Infosys as its confined business-in-partner, and some of the competent market players like Kae Capital, Blume Ventures, and IDG Ventures
Just like Manish Singhal and Rema Subramanian, there are lot many venture capitalist who are looking for SIDBI to extend funding. This reduces foreign intervention in domestic venture capital Industry. In case, a venture capitalist has no track record, SIDBI can help to a considerable extent.
SIDBI can be a game changer as most of the venture capitalist look after this Small Industrial Bank of India for their first-time funding. We can conclude this by saying that the major contribution to business funding comes from SIDBI and other banks and financing firms.