In a major step towards strengthening India’s maritime infrastructure and shipping ecosystem, the government has appointed SBI Ventures, formerly known as SBICAP Ventures, as the fund manager for the Rs 20,000 crore Maritime Investment Fund (MIF).
The appointment follows a competitive selection process, under which SBI Ventures will be responsible for fundraising activities, fund structuring, and overall portfolio management. The MIF forms a central pillar of the larger Rs 25,000 crore Maritime Development Fund cleared by the Union Cabinet to accelerate investments across the country’s maritime sector.
The fund is being designed on a blended finance framework aimed at improving access to long-term and cost-effective capital for maritime projects. Under the structure, the Union government will contribute 49 per cent of the total corpus, amounting to Rs 9,800 crore, through budgetary support routed via Sagarmala Finance Corporation. The remaining 51 per cent is expected to come from private and commercial investors, sovereign wealth funds, institutional investors, and public sector enterprises.
Investment priorities under the fund will focus on strategically important maritime assets and infrastructure. These include shipbuilding facilities, specialised shipbuilding clusters, ship repair operations, vessel ownership, and port expansion projects. The fund will also support inland water transport systems, coastal cargo movement, and international shipping ventures to enhance India’s maritime competitiveness.
A wholly-owned subsidiary of State Bank of India, SBI Ventures currently manages assets worth nearly Rs 30,000 crore. The formalisation of this mandate is expected to provide fresh momentum to maritime financing and support the long-term expansion of India’s port-led development strategy.