BLITZ BUREAU
NEW DELHI: The Ministry of Agriculture and Farmers’ Welfare in collaboration with the National Bank for Agriculture and Rural Development (NABARD) launched aRs 750 croreAgri Sure fund for startups to promote investment in technology-driven and high-impact activities in agriculture.
The fund announced by NABVentures, a subsidiary of NABARD has an initial corpus of Rs 750 crore with 250 croreseach from NABARD and the Ministry of Agriculture, and 250 crores from other institutions.
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 fund will provide support through investments in sector-specific, sector-agnostic and debt Alternative Investment Funds (AIFs) as well as direct equity support to startups.
The fund was launched in the presence of Ajeet Kumar Sahu, Joint Secretary, Department of Agriculture & Farmers’ Welfare, Shaji KV Chairman, NABARD and other senior officials.
Sahu said, “Most of our farmers hold small pieces of land, in this ecosystem we need to focus on enhancing productivity, this is where technology can play a crucial role.”
NABARD chairman Shaji KV said, “With this fund, we aim to support early-stage innovators and help farmers with viable, sustainable and durable tech solutions.”
