How to Apply for Venture Capital Fund for Scheduled Castes (VCF-SC) — ₹10L to ₹15Cr

Screening Committee review — Proposals reach a screening committee first, which takes them up in first-come, first-served order and carries out a preliminary analysis.

Detailed appraisal — Proposals that clear the first cut are appraised thoroughly by officials of IFCI Venture Capital Funds Limited, or by representatives they authorise. This appraisal includes a physical visit to the project site.

Proposal prepared by the AMC — The Asset Management Company then puts together a detailed proposal for consideration.

Investment Committee decision — The committee takes the final call, which can be to sanction, defer or reject the proposal. It also fixes how much assistance the project will receive, based on merit.

Letter of Intent and term sheet — Companies that are approved are issued a Letter of Intent along with a term sheet.

Legal documentation, valuation and title search — Legal paperwork is executed, and valuation and title search reports are commissioned.

Disbursement — Funds are released in tranches once the sanctioned terms, pre-disbursement conditions and documentation are in place.