NABARD launched Nab Ventures- its maiden fund to give support to agriculture, food, rural startups

NABARD (The National Bank for Agriculture and Rural Development), Nab Ventures notified its first time funding termed ‘NAB VENTURES Fund I‘ which is a Rs 700-crore venture capital fund for equity investments to provide support for agriculture, food and rural startups (which would help improve rural livelihoods)

The fund has a proposed corpus of Rs 500 crore has a greenshoe option of Rs 200 crore and has received an anchor commitment from NABARD.

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The a forementioned fund is registered with SEBI as a Category II Alternative Investment Fund and would raise the resources from domestic and global investors.

About NABARD

Formation: July 12, 1982;

Type: Development finance institution

Legal status: Fully owned by Government of India

Purpose: Development assistance, poverty reduction

Headquarters: Mumbai, Maharashtra, India

Chairman is Harsh Kumar Bhanwala

NABARD launched Nab Ventures- its maiden fund to give support to agriculture, food, rural startups

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