Imphal, Sept 14 (KNN) To provide financial assistance for startups in the MSME sector of Manipur the North Eastern Development Finance Corporation Limited (NEDFi) is setting up a Rs 30 crore Venture Capital (VC) fund.

It has partnered with the state government for this initiative, reported E-Pao.

This information was given by NEDFi chairman and managing director PV SLN Murty while he was speaking at a felicitation function on Tuesday.

He said that NEDFi took huge risks in investing in different establishments and faced several challenges in its initial days.

However, the corporation has now become a leading financial institution for northeast region after it invested in different companies including micro-finance companies, he added.

Murty identified Assam and Manipur as the two leading states, which have been taking maximum benefits from NEDFi and assured assistance to promising and potential entrepreneurs of the state.  (KNN Bureau)