Omnivore Marks First Close Of Its Fund At $150mn

Impact venture capital firm Omnivore has marked the first close of its third fund at USD 150 million. The Omnivore Agritech and Climate Sustainability Fund, which was launched in April 2022, will continue focusing on startups developing breakthrough technologies for agriculture, food, climate, and the rural economy, according to a statement.

First close investors include KfW, the Self Reliant India (SRI) Fund, FMO, SIFEM, the International Finance Corporation (IFC) with support from the Bill & Melinda Gates Foundation Inclusive Agritech Facility, Louis Dreyfus Company Ventures, the Dutch Good Growth Fund (DGGF), the Belgian Investment Company for Developing Countries (BIO), and Yara Growth Ventures. 

Omnivore was founded in 2011 by Mark Kahn and Jinesh Shah to fund Indian startups. To date, Omnivore raised USD 82 million for its second fund, which had a final close in April 2019. Some of Omnivore’s portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel. 

Over the past year, Omnivore has exited two agritech startups. In July 2022, Omnivore sold its stake in aquaculture IoT startup Eruvaka to Nutreco, a global leader in animal nutrition and aquaculture, realising the largest exit in Indian agritech to date.  Later, in March 2023, Omnivore sold its stake in precision sprayer manufacturer MITRA to farm machinery giant Mahindra. 

With their third fund, Omnivore expects to make 25-30 new investments in Seed and Series A rounds of agritech startups and MSMEs, with initial cheque sizes ranging between USD 1 million and USD 5 million, it said in a statement.

Jinesh Shah,Managing Partner at Omnivore, said, “We are grateful to our investors who share Omnivore’s vision of making India an agritech superpower which positively impacts the lives of smallholder farmers globally.”

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