NABVENTURES Fund First Closes at €450 Million

NABARD's venture capital arm, NABVENTURES, has achieved the first close of its second fund, securing €450 million. The fund aims for a total corpus of €1,500 million, including an overallotment option.

The fund will focus on early to growth-stage agritech startups employing technology to address challenges within the agricultural value chain and rural markets. Investment areas include agritech, food and agribusiness, rural fintech, climate-smart solutions, and supply chain and logistics ventures focused on rural transformation.

NABARD serves as the anchor investor for the fund, which also intends to support businesses prioritizing sustainability, climate resilience, financial inclusion, and livelihood creation. NABVENTURES was established in 2018 as a NABARD subsidiary to invest in agriculture and rural development sectors.

NABVENTURES has an existing portfolio of 23 startups, including Unnati, Eggoz, and Beyond Snack. This new fund underscores the firm's continued commitment to India's agritech ecosystem, despite recent investor caution in the sector.