Omnivore invests in early-stage Indian agriculture and food startups with the goal of boosting the profitability and sustainability of smallholder farmers.
The fund also seeks to reduce uncertainty for India’s more than 100 million small farmers by building markets that more efficiently buy and sell to them, Omnivore’s co-founder Mark Kahn, tells ImpactAlpha.
Omnivore’s $39 million first fund, raised exclusively from domestic Indian investors, backed 12 companies including horticulture machinery developer MITRA, which last month attracted a strategic investment from India’s largest tractor manufacturer.
The new fund is backed by KfW, the German development bank, the Dutch Good Growth Fund, the Rockefeller and Sorenson Impact foundations, Ceniarth, a US family office, Indian commercial bank RBL Bank and SIDBI, an Indian state-backed fund of funds that was an investor in Omnivore’s first fund.
Omnivore expects to announce the first two investments from the new fund in March and complete fundraising by August.