Khaitan advises Canbank Venture Capital Fund

Khaitan & Co acted as the Fund Counsel for the ‘Electronics Development Fund’ (EDF), a ‘fund of funds’ managed by CVCFL and set up by the Department of Electronics & Information Technology (DeitY), Ministry of Communication & IT, Government of India along with Canara Bank, with a corpus of approx $322m.

The Fund intends to support its investee funds (Daughter Funds) including Early Stage Angel Funds and Venture Funds to boost investments in Electronics System Design and Manufacturing (ESDM), nano-electronics and information technology and related sectors.

Siddharth Shah, Partner; Bijal Ajinkya, Partner; Vivaik Sharma, Senior Associate; Niharika Chaturvedi, Associate represented the client on the transaction.