LIC Housing's VC fund to invest in urban housing

LIC Housing Finance Ltd (LICHF), a subsidiary of Life Insurance Corporation of India (LIC), plans to launch a Rs 500-750 crore real estate venture capital fund in two or three months. The venture capital's focus will be to invest primarily in urban real estate. The fund will be raised through its subsidiary, LIC Housing Finance Asset Management Co. LICHF plans to disburse Rs 25,000 crore in the current fiscal, and around 93 per cent of the company's lending is for retail and home loan borrowers.Contact: LIC Housing Finance. Tel: 022-2204 9799.  E-mail: lichousing@lichousing.com Website: www.lichfl.com