About Canbank Venture
Canbank Venture Capital Fund (CVCF) is a wholly owned Subsidiary of Canara Bank. Canbank Venture Capital Fund (CVCF) is a Trust set up by Canara Bank on 21st October, 1989, for undertaking Venture Capital activities. 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 INR 6200 Million, of which two are closed. The portfolio investments are spread across diverse industrial segments.
Latest Canbank Venture News
Dec 22, 2022
B2B services rental startup Settlrs on Wednesday said it has raised USD 1 million (over Rs 7 crore) fund from Canbank Venture Capital Fund Ltd and other investors. The startup — incubated at NSRCEL, IIM Bangalore (IIMB) — said the other investors are Vinod Jain Family Office, MaGeHold Pte Ltd, JN Capital and an undisclosed angel investor. The company will use this fund for business expansion into other cities and to build a next-generation fintech platform that attracts and connects users and helps vendors deploy assets into the rental ecosystem seamlessly, Settlrs said in a statement. The fund would also be utilised to expand into new portfolios, it added. “Renting as an organised business in India is in an early stage. We believe that the innovative fintech solution being introduced in Settlrs platform would result in greater adoption of our business and contribute to streamlining the unorganised rental market,” Settlrs Founder Gaurav Ranebennur said. Settlrs said it has rented out more than 35,000 assets, such as furniture, home appliances, fitness equipment and IT infrastructure, across over 50 businesses in 15 cities in India, with 25 per cent month-on-month growth in revenues. The startup allows businesses to shift from an outright purchase model to a pay-per-use model at reasonable monthly rentals. (PTI)
Canbank Venture Investments
Canbank Venture has made 36 investments. Their latest investment was in Koovers as part of their Seed VC - II on June 6, 2022.
Canbank Venture Investments Activity
Seed VC - II
Canbank Venture Fund History
9 Fund Histories
Canbank Venture has 9 funds, including Emerging India Growth Fund.
Canbank Venture Team
6 Team Members
Canbank Venture has 6 team members, including current Senior Vice President, G. Shreeram.