We will be launching a green energy venture capital fund: RPSG Group Chairman Sanjiv Goenka

While speaking at the India Today Conclave on Friday, RPSG Group Chairman Sanjiv Goenka announced that his son, Shashwat Goenka, would soon be launching a green energy venture capital fund.

Goenka said, "We have not announced this anywhere. This is the first time I am speaking of this. We will soon be launching a green energy venture capital fund."

He also added that the fund will be lead by his son Shashwat Goenka.

"My son is very interested in this. He will be heading this fund and he would be making the announcement," Goenka said.

Furthermore, Goenka said that the fund would be released in the next two months. He did not announce the size of the fund.

Goenka spoke of their existed venture fund that invests in FMCG companies.

"We have started a venture capital fund for second-phase startups and FMCG companies. We made 9 or 10 investments, and in the time from we invested to now, all the companies we have invested in are trading at 4X or 5X in terms of value. We will now go out to accept funds from others," he said.

Goenka also spoke about India's growth possibilities.

"When the world around is crumbling, India is standing up. A few years ago, when you went outside, nobody gave Indians any respect. Today, when you go outside and say 'I am from India', you are given respect. Modiji has taught the world to respect India," he said.

RPSG group also added that the ease of doing business has improved under the present government.

“The government led by PM Modi has made it possible for entrepreneurs and industries to think big. The ease of doing business is fantastic,” he said.

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Also Read: 'Investment value rose up to 4x': Sanjiv Goenka reveals son is handling VC fund - BusinessToday