Venture capital firm Omnivore on Wednesday announced the first close of its third fund at $150 million, amid an increased investor focus on clean technology. The Omnivore Agritech and Climate Sustainability Fund, which was launched in April 2022, will focus on start-ups developing breakthrough technologies for agriculture, food, climate, and the rural economy.
The first close investors include KfW, the Self Reliant India (SRI) Fund, FMO, SIFEM, the International Finance Corporation (IFC) with support from the Bill and 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.
“The greatest risk and opportunity for Indian agriculture are the adverse effects of climate change. Our new fund will have a sharper focus on catalyzing climate action in agriculture by funding startups addressing climate mitigation and climate adaptation,” said Mark Kahn, Managing Partner at Omnivore.
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 $1 million and $5 million.
