The Kerala Financial Corporation (KFC) was in the process of launching a venture capital fund, managed by a professional body, for providing need-based funding for start-ups, Finance Minister K.M. Mani said here on Thursday.

Addressing a meeting to mark the launch of the corporation’s diamond jubilee celebrations, Mr. Mani said the Kerala Financial Corporation had already begun funding such projects at the Technopark Incubation Centre, Start-Up Village, Kochi, and professional and institution-based incubation centres under the Kerala State Entrepreneurship Development Mission. The Corporation was also supporting innovative projects being set up under the guidance of the Coconut Development Board, Spices Board, Rubber Board, and Coir Board.

Earlier, inaugurating the celebrations, Governor Nikhil Kumar said the KFC’s role in promoting the State’s industrialisation was substantive.