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NRL with NVCL to support NorthEast startups with equity funding

BNE ADMIN


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Guwahati: NRL is collaborating with NEDFi Venture Capital Limited (NVCL) to provide equity capital to Northeast Region startups.
NRL has previously funded entrepreneurs with a Corpus Fund of Rs. 10 Crore established under its flagship Startup programme, NRL iDEATION.

NRL has taken an equity investment approach in startups under NRL iDEATION in order to develop a self-sustaining fund by forming an Angel Fund under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012. The Alternative Investment Fund (AIF) with a total corpus of Rs. 30 Crore is planned to be established. NRL has appointed NVCL as Fund Manager to handle the startup equity portfolio of NRL, as required by SEBI criteria for AIF.

About NRL iDEATION

NRL iDEATION was launched in  July 2017 and ever since, the program has forged ahead with the single point objective of Building, Strengthening, Consolidating & Developing the Startup Eco-system in North East India while carving out its future roadmap to start investing Equity in Startups. NRL iDEATION is focused on providing the right financial impetus to the growing Startup ecosystem of North East India. So far, it has created an impact for 37 Startups in stages ranging from Proof of Concept to Scale-up and spanning from Agri & allied to SaaS sector with total funding of Rs. 8.5 Crore. NRL iDEATION website www.nrlideation.com facilitates sharing of ideas by prospective start-ups on a continuous basis.

BNE ADMIN