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INDIA: IFC COMMITS $10 MILLION TO A VC FUND INVESTMENT IN INDIA.(International Finance Corp. commits funds to venture capital investment)(Brief Article)
IPR Strategic Business Information Database, November, 2002
The World Bank's private sector lending arm International Finance Corporation on Tuesday agreed to provide $10 million assistance to New Path Ventures, a California-based venture capital fund, for investments in Information Technology in India. New Path, which started with a base of $50 million, was into incubating companies in the field of semi-conductor design and related software.
IFC said in a statement it has the authority to invest up to $10 million in future funding rounds of New Path's incubated companies, for a combined investment of up to $20 million. - (EMEConomy.com)
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