• Tuesday, Jul 27, 2021
  • Last Update : 01:19 pm

UCB to form 700C venture capital, private equity funds

  • Published at 08:09 pm May 5th, 2021
United Commercial Bank Limited (UCB) logo

The bank's board of directors has taken the decision of investing in the funds as a sponsor

The United Commercial Bank Limited (UCB) will invest an aggregate amount of funds worth Tk700 crore in a venture capital fund and a private equity fund.

The bank's board of directors has taken the decision of investing in the funds as a sponsor — subject to the approval of the securities regulator, according to a disclosure posted on the Dhaka Stock Exchange (DSE) website on Wednesday.

The UCB will invest Tk100 crore to set up the Tk350-crore "UCB Venture Capital Fund-One".

The UCB's board also decided to form a Tk350-crore private equity fund called "UCB Private Equity Fund-One". 

The private bank plans to invest Tk100 crore as a sponsor after getting the required approval.

UCB, presently an “A” category company, was listed with the stock exchanges in 1986.

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