Venture capital firm Agritech Omnivore to set up Rs 1,000 crore fund

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Venture capital firm Agritech Omnivore announced on Monday that it will raise $130 million (around Rs 1,000 crore) to set up its third fund.

The company has launched its third fund with a target corpus of $130 million (Rs 1,000 crore), Omnovire said.



The new fund will continue to invest in early-stage startups developing breakthrough technologies for agriculture, food, climate and the rural economy.

The company typically invests in seed, pre-Series A and Series A rounds with follow-on capital for future growth, according to a company statement.

Founded by Jinesh Shah and Mark Kahn in 2010, Omnivore invests in agritech and over the past decade has backed over 35 startups, which are making agriculture more profitable, resilient, sustainable and climate resilient.

Omnivore is targeting a first close of the new fund by September 2022 and a final close by June 2023.

With this new fund, Omnivore expects to make 25-30 new investments over the next four years, continuing to fund entrepreneurs who are building the future of India’s agriculture and food systems.

Omnivore currently manages Rs 936 crore across two funds, the most recent of which closed in April 2019.

Some of Omnivore’s top portfolio companies include DeHaat, Arya, Reshamandi, Stellapps, AgNext, Bijak, Ecozen, AGRIM, Eruvaka, Pixxel, and Animall.

India-based Omnivore funds entrepreneurs who are building the future of agriculture and food systems.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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