HDFC, VC inks pact15 June 2022, 6:07 pm
HDFC Bank announced signing a memorandum of understanding with 100X. VC, a venture capital firm. The bank will extend its full-suite of specialised services and facilities tailored for start-ups, known as Smart-Up, to all the firms associated with 100X.VC. It will also extend additional credit facilities and evaluate investment opportunities in these start-ups.
With this MoU, HDFC Bank and 100X.VC will work together in mutually beneficial areas. The venture capital firm will recommend HDFC Bank as primary Bank to all its investee companies. HDFC Bank and 100X.VC will also conduct joint programs for start-ups such as Master Classes. Additionally, the bank will evaluate start-ups referred to it by 100X.VC for investment and extending loans.