MUMBAI, Aug 13: SICOM Ltd has decided to promote a venture capital fund having a corpus of Rs 15 crore initially in association with Pune-based K&P Capital Services P Ltd.

Addressing 31st annual general meeting here, Sicom chairman, Sharda Marathe, said that there is a need to provide Venture Capital to potential small and medium-scale units which are predominantly situated in the Western region of the country.

During the current year, the company has started accepting fixed deposits from retail investors. The idea is not to look at fixed deposits as resource mobilisation tool intially but to create an awareness about Sicom at the retail level.

The company has been active in the promotion of other infrastructure projects such as roads, flyovers and bridges, airports and air cargo complex. The company is co-promoting a special purpose vehicle for execution of Andheri flyover project.

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