Centre launches Rs 750 cr 'Agri Sure' fund for start-ups

Published By : Pradeep Subudhi | July 13, 2024 8:15 AM

The Ministry of Agriculture and Farmers’ Welfare, in partnership with the National Bank for Agriculture and Rural Development (NABARD), launched a Rs 750 crore 'Agri Sure' fund on Friday.

Bhubaneswar, July 13: The Ministry of Agriculture and Farmers’ Welfare, in partnership with the National Bank for Agriculture and Rural Development (NABARD), launched a Rs 750 crore 'Agri Sure' fund on Friday. This initiative aims to promote investment in innovative, technology-driven, and high-impact activities within agriculture and rural enterprises.

The fund, announced by NABVentures, a subsidiary of NABARD, boasts an initial corpus of Rs 750 crore. This includes Rs 250 crore each from NABARD and the Ministry of Agriculture, with the remaining Rs 250 crore contributed by other institutions.

Designed to support approximately 85 agri startups, the fund will offer investment sizes of up to Rs 25 crore each by the end of its term. Support will be provided through investments in sector-specific, sector-agnostic, and debt Alternative Investment Funds (AIFs), as well as direct equity support to startups.

The fund's launch event saw the presence of Ajeet Kumar Sahu, Joint Secretary, Department of Agriculture & Farmers’ Welfare, Shaji K.V., Chairman of NABARD, and other senior officials.

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