AgroStar Krishi Gyaan
20 May 19, 01:00 PM
Krishi VaartaThe Economic Times
NABARD launches maiden fund for Agri, food and rural start-ups
NEW DELHI: Nabventures, a subsidiary of NABARD, Monday announced its maiden fund to back agriculture, food and rural start-ups. The fund -- NABVENTURES Fund-- with a proposed corpus of Rs 500 crore has a greenshoe option of Rs 200 crore and has received an anchor commitment from NABARD, Nabventures said in a release.
The National Bank for Agriculture and Rural Development (NABARD) is a development finance institution. "The fund plans to raise the resources from a mix of domestic as well as global investors. The fund is registered with SEBI as a Category II Alternative Investment Fund," it said. NABARD Chairman Harsh Kumar Bhanwala said the fund is expected to provide a big boost to the investment ecosystem in the core areas of agriculture, food and improvement of rural livelihoods in India.
Source – Economic Times, 14th May 2019
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