Alternate Investment Fund: Ubharte Sitare Fund_00.1
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Alternate Investment Fund: Ubharte Sitare Fund

 

Relevance

  • GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

 

Context

  • Union finance minister launched the Ubharte Sitaare Fund in Uttar Pradesh for export-oriented small and mid-sized companies and start-ups to keep the “wheels of the economy moving”.

 

Key points

  • The Ubharte Sitare Fund (USF) will be jointly sponsored by Exim Bank and SIDBI.
  • It has a size of Rs 250 crore with a green shoe option of Rs 250 crore.
  • The fund will invest by way of equity, and equity-like products, in export-oriented units, both in the manufacturing and services sectors.
  • The programme is aimed at supporting the champion sectors.
  • Some developed countries like Germany are helping their champion sectors identifying, supporting and hand-holding them and giving them necessary technology and fund infusion.
  • Ubharte Sitaare Fund would largely follow the same principal.

 

Alternate Investment Fund: Ubharte Sitare Fund_50.1

 

Expected Benefits

  • The induction of technology will itself bring a big difference to the small and medium units.
  • USF will help SIDBI to extend the credit and technology facility and boost capacity to go to the market to raise funds.
  • USF will help script a new paradigm of growth in exports.
  • USF would play a catalytic role in contributing to the growth of the identified companies.
  • USF will help in growth and diversification of India’s exports.
  • USF will provide impetus to brand India.
  • USF will also boost the employment generation in the country.
  • The One District One Product (ODOP) scheme could become a boon for the Ubharte Sitare Fund.

 

Production Linked Incentive Scheme: A Complete Analysis

 

Alternate Investment Fund

  • These are privately pooled investment vehicle which collects funds from sophisticated investors, whether Indian or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors.
  • They do not fall into the categories of conventional investment like stocks, bonds, and cash.
  • Alternative investments include private equity or venture capital, hedge funds, managed futures, art and antiques, commodities, and derivatives contracts.
  • Alternate Investment Funds are divided into 3-categories:
  • Category-I includes
    • Venture capital funds (Including Angel Funds)
    • SME Funds
    • Social Venture Funds
    • Infrastructure funds
  • Category II includes
    • Real estate funds
    • Private equity funds (PE funds)
    • Funds for distressed assets.
  • Category-III includes
    • Hedge funds
    • PIPE Funds

 

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