Metropolitan Stock Exchange of India Ltd (MSE) has tied up with Canada’s Delamore Group, DTM Global Holding and their partners to float a $100 million (Rs 740 crore) fund for investing in startups and micro, small and medium enterprises (MSMEs).
MSE is looking at growing the size of the fund to $250 million in the next three years, it said in a statement.
MSE also said it plans to introduce two exchange platforms, VentureXchange and Go-LiquidX, to help companies raise funds.
VentureXchange will enable micro venture capital firms, non-bank lenders, SMEs and startups raise finance through equity and debt directly from international as well as local investors.
Go-LiquidX will provide a platform for trading of distressed assets and bad loans, subject to regulatory approvals in India.
MSE is also looking to launch a platform to enable listing of alternative investment funds (AIF), which will address the concerns of funds and investors who face the challenge of illiquidity.
“The purpose of launching the exchange platforms is to create more bandwidth for attracting investors as well as participants on a broader basis to create a more conducive financial environment,” said Kunal Sanghvi, chief financial officer at MSE.
MSEI is the youngest national-level stock exchange in India, after the BSE and the National Stock Exchange. It offer trading in currency derivatives, equity cash and derivatives, and debt.
DTM Global is a Canada-based technology and media-focussed holding company promoted by the Delamore & Owl Group of companies.