NABVENTURES, the venture capital arm of India's National Bank for Agriculture and Rural Development (NABARD), has raised Rs 450 crore at the first close of its second fund, AgroSpectrum reports. Fund II targets a total corpus of Rs 1,500 crore, including a green-shoe option. NABVENTURES' earlier funds have backed 23 enterprises across agriculture and the rural economy, and NABARD is the anchor investor in Fund II.
The fund will invest in early- and growth-stage companies with scalable models that raise productivity, strengthen value chains, lift farmer incomes and build resilient rural enterprises. Target sectors include agritech, food and agribusiness, rural fintech, climate-smart solutions, and supply chain and logistics.
"As the sector evolves, there is a growing need for scalable, technology-driven solutions that enhance productivity, strengthen value chains, improve farmers' incomes, and build resilient rural enterprises," said NABARD chairman Dr Shaji Krishnan V. He said the fund wants businesses that deliver both commercial returns and social impact through sustainability, climate resilience, financial inclusion and livelihoods.
Beyond capital, portfolio companies are to draw on NABARD's nationwide presence and sector knowledge to reach more markets and scale up.
Photo: BigZone Sonu / Wikimedia Commons (CC BY-SA 4.0)
Source: AgroSpectrum
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