Omnivore Announces First Close Of Third Fund At $150 Million According to the firm, it expects to make 25-30 new investments in Seed and Series A rounds of agritech startups, with initial cheque sizes ranging between $1 million and $5 million
By Teena Jose •
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Impact venture capital firm Omnivore has announced the first close of its third fund at $ 150 million. First close investors include KfW, the Self Reliant India (SRI) Fund, FMO, SIFEM, the International Finance Corporation (IFC) with support from the Bill & Melinda Gates Foundation Inclusive Agritech Facility, Louis Dreyfus Company Ventures, the Dutch Good Growth Fund (DGGF), the Belgian Investment Company for Developing Countries (BIO), and Yara Growth Ventures.
"The greatest risk and opportunity for Indian agriculture are the adverse effects of climate change. Our new fund will have a sharper focus on catalyzing climate action in agriculture by funding startups addressing climate mitigation and climate adaptation," said Mark Kahn, managing partner, Omnivore.
According to the firm, it expects to make 25-30 new investments in Seed and Series A rounds of agritech startups, with initial cheque sizes ranging between $1 million and $5 million. The company also added that the investment will be focused on themes like agrifood life sciences, rural fintech, and climate-smart agriculture.
As per an official release, over the past year, Omnivore has exited two agritech startups, delivering strong returns to its investors. In July 2022, Omnivore sold its stake in aquaculture IoT startup Eruvaka to Nutreco, an animal nutrition and aquaculture company. Later, in March 2023, Omnivore sold its stake in precision sprayer manufacturer MITRA to farm machinery giant Mahindra.
"We are grateful to our investors who share Omnivore's vision of making India an agritech superpower which positively impacts the lives of smallholder farmers globally," said Jinesh Shah, managing partner, Omnivore.
