Date: April 2010
Document Type: Completion Reports / Extended Annual Review Reports
Project Number: 28708-014

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Extended Annual Review Report for SARA Fund describing project background, features and highlights as well as evaluation information, issues, lessons, and recommended follow-up actions. In 1995, the Asian Development Bank (ADB) invested in the SARA Fund, one of the first Indian venture capital funds, a concept motivated by a desire to channel funding to entrepreneurs and firms in need of venture capital. SARA Fund was set up as a 15-year closed-end fund with committed capital of $32 million, managed first by Creditcapital Venture Fund (India) CVF), and later by IL&FS Venture Corporation.