CONNECT WITH US
Funding Tracker

Funding Tracker

NABARD-backed NABVENTURES raises Rs 450 Cr for second fund

YourStory – Funding logo

Published on

Add as a preferred source on Google
NABARD-backed NABVENTURES raises Rs 450 Cr for second fund

NABVENTURES, the venture capital arm of the National Bank for Agriculture and Rural Development (NABARD), has achieved the first close of its second fund, securing Rs 450 crore in initial commitments.

The fund has a target corpus of Rs 1,500 crore, including a green-shoe option to accommodate additional investments. NABARD is the anchor investor in the fund, which will back early- to growth-stage technology startups focused on agriculture and rural development.

Established on April 23, 2018, as a wholly owned subsidiary of NABARD, NABVENTURES manages investments through its flagship Fund I and the specialised AgriSURE fund. The firm has invested in 23 companies across India's agritech and rural startup ecosystem. Its portfolio includes supply chain platform Unnati, farm-to-consumer brand Eggoz, snacking company Beyond Snack, and rural fintech startup Jai Kisan.

Earlier this year, aquaculture-focused agritech startup Aquapulse raised Rs 25 crore in an ongoing Series A round led by NABVENTURES and KisaanSay, with the investment made through the AgriSURE fund.

NABVENTURES Fund II will provide growth capital to companies using technology to address structural challenges across the agricultural value chain. Its focus areas include agritech, climate-smart solutions, supply chain and logistics, rural fintech, food and agribusiness, and other businesses driving rural transformation.

Announcing the First Close, Dr. Shaji Krishnan V, Chairman of NABARD stated, "The successful First Close of NABVENTURES Fund II at Rs 450 crore marks an important milestone in NABARD's continued commitment to fostering innovation across India's agriculture and rural economy.



Source link
Related Topics:Funding Tracker

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.