Godrej To Launch VC Fund-Omnivore Capital To Finance Agri Start-Ups
Godrej Agrovet Limited is setting up a venture capital fund of $ 50Mn along with a set of individuals to invest in agri start-ups.
Omnivore Capital is an early stage agri-tech venture capital fund that will invest in India, US, and Canada. It focuses to invest in innovative solutions that improve the agricultural productivity and sustainability.
Transaction Reference: BS
According to the Omnivore's website, the focus area for investing includes agricultural financial services, agriculture services, animal science, aquaculture & marine culture, biofuel biotechnology, farm equipment, plant science, sustainable inputs, water management in agriculture.
Yet the fund will not invest in companies focused on agricultural real-estate, food/biofuel processing, food/beverages, wellness, organic, companion health, storage/logistics, or plant pharmaceuticals.
Omnivore’s team consists of Atish Babu and Mark Kahn. It will invest $ 5Mn in each portfolio company over its lifecycle with the initial investment of $ 1Mn-$ 3Mn in a Series A or Series B round of financing.
Godrej Agrovet, being a strategic investor in the fund with $ 5Mn, is a agri business division of the Group, deals with products and services that increase crop and livestock yields. It has interests in animal feed, oil palm plantations, agri-inputs and poultry, and registered total sales of Rs 1,576Cr in 2009-10.
Godrej is a diversified conglomerate with the interests in real estate, FMCG, industrial engineering, appliances, furniture, security and agri care.
There are number of venture capital funds that invests in agriculture such as Nexus Venture Partners, Nine River Capital, Helion ventures, Matrix Partners India.
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