Nabard’s food, agriculture and rural development-focused investment vehicle, Nabventures, has reached its first close and has a ceiling of nearly $100m.
Nabventures, the investment arm of the India-based National Bank for Agriculture and Rural Development (Nabard), is aiming to raise up to Rs 7bn ($99.4m) for a venture capital fund, The Hindu reported yesterday
Indian government-owned development bank Nabard will anchor the fund, which has reached its first close. It is focusing on startups developing technologies focusing on agriculture, food and rural development.
The vehicle has a proposed target of Rs 5bn but has a greenshoe option in place meaning up…
