India’s Cabinet has approved a Rs 10,000 crore commitment to a new SME Growth Fund.

It is the country’s first dedicated pool of public equity capital for small and medium firms.

The fund will take direct equity stakes, with no monthly repayments for businesses.

It will operate as a SEBI-regulated, professionally managed Alternative Investment Fund.

Targets are firms ready to expand capacity, adopt technology, export or acquire a business.

Most money is expected to go to manufacturers in Tier-II and Tier-III cities.

No application window has opened yet; the fund still needs rules and a manager.

Read the full article for more details on the SME Growth Fund.