India's Sathguru launches $100m agritech fund

Early-stage growth capital investments in domestic companies are expected to begin by mid-2017. The fund will invest in about 12 companies, committing $8 million apiece for significant minority stakes, according to a report by The Economic Times republished by the firm.

“We are focusing on established businesses that have already created channel partners and developed product on a commercial level,” said Venu Gopal Chintada, a partner at Sathguru. “From that stage, if they struggle to move up to the full-fledged growth stage, that is where we want to come in.”

Founded in 1985, Sathguru is one of India’s oldest domestic consulting firms, offering niche advisory on innovation advancement and strategy in life sciences. In the agriculture and biotech space, this work focuses on support for technology assessment and access as well as developing unique supply chains and commercial operating models.

The US government estimates that India’s food industry is worth about $120 billion, including $22 billion of value-added products. Recent private equity fundraising aimed at this space has included a $140 million first close for a vehicle managed by Mandala Capital and the launch of a $9 million fund-of-funds by the Indian government.

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