NABARD’s Rs 45 crore push for agritech via investments into VC funds

The total commitments to its portfolio of 15 Venture Capital Funds by the agriculture development bank rose to INR 263 crore in FY18 as compared with 12 ones aggregating INR 218 crore in FY17

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New Delhi: In a step to promote technological innovations and technology dissemination in the agriculture and rural development sectors, the National Bank for Agriculture and Rural Development (NABARD) made fresh investments totaling INR 45-crore in three venture capital funds, Avishkar Bharat Fund, Orios Partners and IFMR Fimpact as a part of a Long-Term Fund during the Financial Year 2018.

In its annual report, the agriculture development bank has stated that its commitments in Venture Capital Fund resulted in investments to the tune of INR 791 crore (till March-end 2018) as compared with INR 650 crore as at FY17. NABARD’s total commitments to its portfolio of 15 VCFs rose to INR 263 crore in FY18 as compared with 12 VCFs aggregating INR 218 crore in FY17.

“Noteworthy innovations brought about by portfolio companies that will benefit farmers are: solar-operated micro cold storage and solar dryers, bio-stimulants from seaweed, e-dairy farming and smart agriculture technology,” stated NABARD in its annual report.