NABVENTURES is a subsidiary of NABARD that created Agri Fund ‘Agri-Sure’ to finance startups and rural enterprises. The fund will boost up the innovation and tech implementation in agriculture sector.
Agri-Sure fund will further provide support through investments in sector-specific, sector-agnostic and debt Alternative Investment Funds (AIFs), as well as direct equity support to startups as said in a statement.
Agri-Sure fund for agri sector with an initial corpus of Rs 750 crore with Rs 250 crore each from NABARD and the Ministry of Agriculture, and Rs 250 crore from other institutions.
The fund is created to promote investment in innovative, technology-driven, high-risk, and high-impact activities in agriculture and allied areas, NABARD said in a statement.
Managed by NABVENTURES, a wholly-owned subsidiary of NABARD, the fund is structured to support approximately 85 agri startups with investment sizes of up to Rs 25 crore each by the end of its term.
The National Bank for Agriculture and Rural Development (NABARD) on Friday said its arm has launched a Rs 750-crore agri fund for startups and rural enterprises.
Agri-SURE’s focus areas would include:
- Promoting innovative
- Technology-driven initiatives in agriculture
- Enhancing the farm produce value chain
- Creating new rural ecosystem linkages and infrastructure
- Employment generation and supporting Farmers Producer Organizations (FPOs)
Additionally, the fund aims to encourage entrepreneurship through IT-based solutions and machinery rental services for farmers, innovation driving sustainable growth and development in the agricultural sector, it said.
