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Omnivore, a venture capital firm focusing on agritech start-ups, has launched a $130 million (₹1,000 crore) fund to invest in early-stage start-ups developing “breakthrough technologies” for agriculture, food, climate, and the rural economy.
The VC firm targets to invest in 25 to 30 start-ups in the next four years. The firm is targeting a first close of the new fund by September 2022 and a final close by June 2023.
Omnivore invests in Seed, Pre-Series A, and Series A rounds, with follow-on capital for future growth. It currently manages ₹936 crore in two funds.
The VC firm’s investment portfolio includes firms such as DeHaat, Arya, Reshamandi, Stellapps, AgNext, Bijak, Ecozen, AGRIM, Eruvaka, Pixxel and Animall.
The 12-year-old VC firm, founded by Jinesh Shah and Mark Kahn, has been backed by over 35 start-ups.
Focus of the new fund
“Through Omnivore’s investments, we have touched the lives of almost 70 lakh smallholder farmers, improving their profitability and resilience, while creating value for our investors,” Mark Kahn, Managing Partner of Omnivore, said.
“The Omnivore Fund 3 will have a sharper focus on catalysing climate action in agriculture, backing start-ups addressing both climate mitigation (reducing India’s greenhouse gas emissions) and climate adaptation/resilience (securing a future for India’s farmers),” he said in a statement on Monday.
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