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Jan 08, 2020
SIDBI announces launch of website for its Fund of Funds operations

Small Industries Development Bank of India (SIDBI), the apex financial institution engaged in the promotion, financing and development of Micro, Small and Medium Enterprises (MSMEs), has announced the launch of the website exclusively for its Fund of Funds operations.

The website provides detailed overview of activities under its various Fund of Funds managed by SIDBI. New and existing investors can contact SIDBI officials through this website.

In a move to digitize various activities undertaken, investors can now submit new applications online and existing investors can update their portfolio and undertake drawdown for funds as well.

Additionally, website provides information on commitments made to various funds and aggregate amount invested in startups through those funds. This initiative will help improve transparency, ease of access to required information and better management of activities with all the stakeholders involved.

"We are looking at transforming our business operations through technology and incorporate industry best practices in the way we interact and work with various stakeholders in the ecosystem. This website will be a compendium of all our Fund of Funds activities and will help reduce paperwork tremendously going forward", Mohammad Mustafa, IAS, Chairman and Managing Director of SIDBI on Thursday said.

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