Sidbi has tied up with Life Insurance Corporation of India for augmenting capital support to small and medium enterprises in the country. The two entities had entered into an MOU in April 2016 to supplement funds under India Aspiration Fund of Sidbi, which has a corpus of Rs 2000 crore. Under this arrangement, LIC has earmarked an amount of Rs200 crore for investment. As the first phase of the project, LIC and Sidbi have signed contribution agreements with 7 venture capital funds, with an aggregate commitment of Rs 99.50 crore from LIC. This is over and above commitment of Rs 162.75 crore already given to these funds by Sidbi.
