Nabard has announced Rs. 700 crore venture capital fund for equity investments in agriculture and rural-focused startups, says a news outlet.
Nabard subsidiary Nabventures has made the announcement. This may encourage several young cooperators to take up new business ideas to their fruition, said a senior cooperator.
Sources close to Nabard say the new fund will be exclusively focused on helping startups working in the fields of agriculture, food and rural development.
Harsh Kumar Bhanwala chairman Nabard has said the fund will go a long way in strengthening investment ecosystem in the relevant areas.