A subsidiary of NABARD (The National Bank for Agriculture and Rural Development), Nabventures notified its first time funding termed ‘NABVENTURES Fund I‘ which is a Rs 700-crore venture capital fund for equity investments to provide support for agriculture, food and rural start-ups (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.
- The afore mentioned fund is registered with SEBI as a Category II Alternative Investment Fund and would raise the resources from domestic and global investors.
- NABARD is now completely owned by the government and has been focusing on start-ups through a number of measures. The Chairman of NABARD is Harsh Kumar Bhanwala.
- National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution for rural development in India. It’s headquarter is located at Mumbai while regional offices are present across India. NABARD was established on the recommendations of B.Sivaraman Committee, (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.