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Omnivore Partners has raised $46 million (₹300 crore) in the first close of its second fund, Omnivore Partners India Fund 2. Investors in the fund include KfW, SIDBI, the Dutch Good Growth Fund, The Rockefeller Foundation, Ceniarth, RBL Bank and the Sorenson Impact Foundation.
Omnivore targets to raise a total of $75 million in the second fund and hopes to complete the fund raising by August, according to a press release.
Omnivore, founded in 2010 by Mark Kahn and Jinesh Shah, is an impact venture fund that invests in seed and Series A stages in start-ups in food, agriculture and the rural economy sectors.
It raised about ₹260 crore ($40 million) in the first fund, only from domestic investors.
According to Mark Kahn, Founding Partner, Omnivore, the second fund will invest similar amounts as with the first fund, but will follow into the Series B round too.
Jinesh Shah, Founding Partner, was quoted in the release as saying that Omnivore had crossed the half-way mark for the fund raising target. It expected to make the first two investments from the second fund by March end.
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