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2015-03-27

Canbank Venture Capital invests $1.6 million in Shera Energy

Canbank Venture Capital Fund (CVCF) is a Trust set up by Canara Bank on 21st October, 1989, for undertaking Venture Capital activities.

Canbank Venture Capital Fund Ltd (CVCFL), a wholly owned Subsidiary of Canara Bank has invested $1.6 million in Shera Energy, a leading manufacturer and exporter of all grades of copper, aluminium and brass flats, rods, tubes and wires.
Shera Energy started its operation in the year 2003 with the manufacturing of copper and aluminium wires.

“We have an impress legacy of partnership with our customers in successfully applying latest technology and solving their toughest problems whilst meeting the highest manufacturing standards. As a manufacturer, we set high standards for performance in every aspect of our business including environment, health and safety. Through these efforts, we are making a difference in our communities,” said, Naseem Shiekh, Chairman and MD, Shera Energy. 

Canbank Venture Capital Fund (CVCF) is a Trust set up by Canara Bank on 21st October, 1989, for undertaking Venture Capital activities. It said that Canara Bank is the first Public Sector Bank to set up a Venture Capital Fund, duly registered with SEBI.

CVCF has so far setup five funds with a total corpus of Rs. 6200 million, of which two are closed. The portfolio investments are spread across diverse industrial segments.

Over the last 20 years, Canbank Venture has invested in several promising companies. The objectives of the fund are- focus on expansion and growth capital investment in companies owned or managed by experienced entrepreneurs or management teams, investment in mid-stage to late-stage enterprises and preference for companies in the MSME sector.

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