`We are awaiting approval from the finance ministry for our venture capital initiative to be launched in alliance with other Indian partners' Mr Desai said adding, `approval is expected any time now'. Total corpus of the VCF was yet to be decided, but Exim would contribute Rs 25 crore and the total size would be finalised once the Government gives the green signal, he said.`Venture Capital Fund will be floated in collaboration with institutions like ours', he said. However, Mr Desai declined to name the financial institutions which would participate in the VCF.

(PTI)