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NABARD launched Nab Ventures- Funding for agriculture, food, rural startups

NABARD launched Nab Ventures- Funding for agriculture, food, rural startups

The National Bank for Agriculture and Rural Development (NABARD) on 13 May announced a Rs 700-crore venture capital fund for equity investments in agriculture and rural-focused startups.

The fund has been launched by Nabventures, a subsidiary of NABARD, and has a proposed corpus of Rs 500 crore with an option to retain over-subscriptions of Rs 200 crore, called as the greenshoe option.

Significance

The fund will have a high impact as it will provide a boost to investment ecosystem in the core areas of agriculture, food and improvement of rural livelihoods.

Most of the times, the city based tech startups receive the funding from Indian as well as foreign investors. But rural startups hardly make their way. So this initiative will help these startups to get the momentum from NABARD.

Note: NABARD is now 100 per cent owned by the government, which has been focusing on startups through a slew of measures.

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