Agritech venture capital firm Omnivore to set up Rs 1,000 crore fund

Agritech venture capital firm Omnivore on Monday said it will raise USD 130 million (around Rs 1,000 crore) to set up its third fund.

The company has launched its third fund with a target corpus of USD 130 million (Rs 1,000 crore), Omnovire said.

The new fund will continue to invest in early-stage startups developing breakthrough technologies for agriculture, food, climate, and the rural economy.

The firm generally invests in Seed, Pre-Series A and Series A rounds with follow-on capital for future growth, a company statement said.

Founded by Jinesh Shah and Mark Kahn in 2010, Omnivore invests in agritech, and over the past decade has backed over 35 startups, which are making farming more profitable, resilient, sustainable and climate-proof.

Omnivore is targeting a first close of the new fund by September 2022 and a final close by June 2023.

With this new fund, Omnivore expects to make 25 to 30 new investments over the next four years, continuing to fund entrepreneurs building the future of Indian agriculture and food systems.

Omnivore currently manages Rs 936 crore across two funds, the most recent being closed in April 2019.

Some of Omnivore's leading portfolio companies include DeHaat, Arya, Reshamandi, Stellapps, AgNext, Bijak, Ecozen, AGRIM, Eruvaka, Pixxel, and Animall.

India-based Omnivore funds entrepreneurs building the future of agriculture and food systems.