SAMRIDDHI Scheme

The Samridhi Fund is an approx. ₹430 crore social venture capital fund. SIDBI has envisaged the creation of the Samridhi Fund to provide capital to social enterprises which can deliver both financial and social returns, in Bihar, Uttar Pradesh, Madhya Pradesh, Odisha , Chattisgarh, Jharkhand, Rajasthan and West Bengal.

Scheme Benefits & Highlights

• Investments will typically be in growth stage companies undertaking expansions which already have a sound business model or innovative business model or products and technologies which have the potential of achieving considerable scale.
• Samridhi can provide growth capital to enterprises through a variety of funding instruments, viz., Equity and Convertible Instruments.
• Samridhi typically provides capital in the range of INR 5-25 crore. In exceptional cases, Samridhi may invest amounts outside this range, especially when strong developmental impact can be generated.
• Target sectors includes, but are not be limited to:

1. Water & Sanitation
2. Affordable Healthcare
3. Agriculture & Allied services
4. Clean Energy
5. Financial Inclusion (Including MFI’s)
6. Education
7. Skill Building, etc.

Eligibility

The conditions necessary for getting funded are as follow:

• Be economically viable
• Provide access to markets for the poor
• Be socially relevant and impact the poor as customers, producers or employees
• Increase the flow of capital to the above mentioned states
• Focus on Environment, Social and Governance matters.

The enterprises must have plans to expand operations in any or all of the following states Bihar, Chhattisgarh, Odisha, Uttar Pradesh, West Bengal, Madhya Pradesh, Jharkhand and Rajasthan.

• Samridhi will not invest in any of the following businesses or activities:
• Illegal or banned activities, including child labour.
• Businesses dealing with hazardous chemicals, asbestos, pesticides and wastes; ozone depleting substances; and endangered or protected wildlife or wildlife products.
• Arms and ammunition
• Companies which have been proven to be involved in fraud and corruption.