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Kerala Venture Capital Fund to be set up by July

The Kerala Venture Capital Fund, with a corpus of Rs 200 million, will be floated within a month to provide equity assistance to the information technology sector in the state.

The fund will be managed by the Kerala Industrial Development Corporation through a board of trustees.

KSIDC managing director James K Joseph said in Thiruvananthapuram today that the Small Industries Development Bank of India would contribute Rs 10 million. The share of the KSIDC and the Kerala Financial Corporation would be Rs 50 million each.

He said the venture capital was part of various steps being taken by the government to attract new IT ventures to the state. IT has been identified as a major thrust area in Kerala.

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Kerala