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
