Omnivore India agri fund reaches $46m first close

LPs include the Small Industries Development Bank of India (SIDBI), RBL Bank, and several overseas impact investors such as the Rockefeller Foundation and Sorenson Impact Foundation, according to an Economic Times story linked from Omnivore’s website. The fund is seeking a $75 million final close by August and plans to focus on domestic investors for the remaining fundraise.

Omnivore will invest in up to 20 start-ups, typically participating in seed and Series A rounds for agricultural technology companies. The firm will also back businesses working in rural and farm-related fields such as storage and logistics, energy and water solutions, and financial inclusion.

Founded in 2010, Omnivore is the venture arm of Godrej Agrovet, the agribusiness division of Indian conglomerate the Godrej Group. Its first fund, which closed in 2013 at INR2.5 billion ($39 million), was raised entirely from domestic investors. The firm pursued foreign LPs for the second fund, looking for investors with a focus on environmental, social and governance value-add.

Omnivore’s portfolio includes weather forecaster SkyMet and farm automation developer Stellapps Technologies, both of which have achieved partial exits. The firm has also backed pork integrator Arohan Foods and pest control product developer Barrix Agro Sciences.

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• Topics
• South Asia
• Venture
• Fundraising
• GPs
• India
• Agriculture