National Bank for Agriculture and Rural Development (NABARD) has announced a $100 million (Rs. 700 crore) VC fund. This fund will be used to invest in startups focussing on agriculture, food and rural development space.
The fund will be raised under the newly incorporated venture arm of NABARD, Nabventures. Apart from the proposed corpus of Rs. 500 crore, the VC also has an option to retain over-subscription of Rs.200 crore, called as the greenshoe option. (Source)
