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NABARD Launches Agri Fund, ‘Agri-SURE’
Context
The National Bank for Agriculture and Rural Development (NABARD) has announced the launch of a Rs 750-crore agri fund, dubbed 'Agri-SURE', to promote investment in innovative and technology-driven initiatives in agriculture and allied areas. The fund aims to support startups and rural enterprises, driving sustainable growth and development in the agricultural sector.
About Agri-SURE
- Agri-SURE is a fund launched by NABVENTURES, a subsidiary of NABARD, with an initial corpus of Rs 750 crore.
- The fund has received contributions of Rs 250 crore each from NABARD and the Ministry of Agriculture, as well as Rs 250 crore from other institutions.
- Objectives: The primary objective of Agri-SURE is to promote investment in high-risk, high-impact activities in agriculture and allied areas.
- Investment Strategy: Agri-SURE will provide support through investments in sector-specific, sector-agnostic, and debt Alternative Investment Funds (AIFs), as well as direct equity support to startups. The fund aims to support approximately 85 agri startups with investment sizes of up to Rs 25 crore each by the end of its term.
- Focus Areas: The fund's focus areas include:
- Promoting innovative, technology-driven initiatives in agriculture
- Enhancing the farm produce value chain
- Creating new rural ecosystem linkages and infrastructure
- Generating employment
- Supporting Farmers Producer Organizations (FPOs)
- Encouraging entrepreneurship through IT-based solutions
- Machinery rental services for farmers
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