KATHMANDU, August 6: The Securities Board of Nepal (Sebon) has permitted Global Equity Fund (GEF) to operate venture capital business after the firm fulfilled all the criteria set by the law.
According to the Sebon, GEF was one of the nine applicants that were approved to run the venture capital fund. While GEF received operating license after it constructed the related infrastructures, eight other firms are in process to fulfill the mandatory provisions.
Venture capital is a form of private equity or financing that investors normally provide to startup companies and small businesses that have potential for long term growth.
Apart from GEF, Adhyanta Fund Limited, Avasar Fund Limited, NMB Capital, NIC Asia Capital, Prabhu Capital, Laxmi Capital Market, Nabil Investment Banking and NIBL S Capital are in process of receiving licenses from the regulator.