NABVENTURES

Check you fit before writing

• AgriSURE Direct takes DPIIT-recognised startups incorporated in India. Get recognition first if you do not have it.
• It wants startups past the idea and prototype stage, with initial commercial traction and a revenue stream.
• Fund II is for post Series A companies. If you are earlier than that, AgriSURE Direct is the relevant door.
• Fund I is fully deployed and not investing.

How to approach

• There is no form and no deadline. Email agrisure@nabard.org at any time.
• Send what an investor would want: an investor presentation, business plan and financial information. The fund says what it asks for varies by proposal and stage.
• Expect questions on legal, technical, operational and compliance material as evaluation moves on.
• Never pay anyone to apply on your behalf. NABVENTURES says it charges nothing for seeking AgriSURE assistance.

What reviewers look at

• Business model, management capability, market opportunity and financial viability.
• Governance standards, innovation and impact potential.
• Risk and return, and fit with the fund's objectives.
• This is an equity investment, so be ready to discuss valuation and the instrument.

NABVENTURES Limited is the venture capital arm of NABARD, the national agriculture and rural development bank. It was incorporated in April 2018 as a wholly owned subsidiary of NABARD to manage Alternative Investment Funds, and it works from Bandra Kurla Complex in Mumbai. It invests equity in agriculture, food and rural businesses. It is an investor, not a grant-giver, so a founder who writes to it is pitching for an investment.

The funds it manages

NABVENTURES manages three SEBI-registered Category II funds. NABVENTURES Fund I is a venture growth equity fund for agriculture, food, rural businesses and agri or rural financial services at the early to mid stage. It is fully deployed across 19 portfolio companies, and its own page now points founders to Fund II.

NABVENTURES Fund II follows Fund I. It invests in agriculture, food, financial services, rural enablers and climate, in post Series A companies. It lists Series A, Series B and later-stage companies, and looks for a clear path to profitability, defensible products and founding teams with deep domain knowledge. Its focus areas include agritech, precision agriculture, biotechnology, animal husbandry, fisheries and aquaculture, farm mechanisation, foodtech, nutraceuticals, rural fintech and insurance, logistics, rural healthcare, and climate areas such as agri waste, renewable energy and bioenergy.

AgriSURE, the Agri Fund for Start-ups and Rural Enterprises, is the one most relevant to early-stage founders. The Ministry of Agriculture and Farmers Welfare and NABARD sponsor it, and NABVENTURES is its Investment Manager. It has two schemes. The Direct Scheme invests in startups, and the FoF Scheme invests in other SEBI-registered funds that back startups. The fund runs for 10 years from 11 February 2025.

Who can apply to the AgriSURE Direct Scheme

The Direct Scheme looks at early-stage startups in the fund's focus sectors. They must be incorporated in India and recognised by DPIIT. The fund describes early stage as past the idea and prototype stage, with initial commercial traction, a differentiated business model and a sustainable revenue stream. Sectors it names include agritech, food processing, animal husbandry, fisheries, supply chain, farm mechanisation, biotechnology, waste management, renewable energy, support for FPOs and primary cooperative societies, farm-level technology and climate. It invests through equity or equity-related instruments such as compulsorily convertible preference shares.

Meeting the criteria is only a first step. The fund says it does not give any right to an investment, and the Investment Manager's decision is final.

How to reach them

There is no application form and no application window. The fund says startups can approach NABVENTURES at any time by emailing its AgriSURE address, and proposals are judged on what the applicant shares, such as an investor presentation, business plan and financials. NABVENTURES also warns on its site that no money is charged for seeking AgriSURE assistance, and that people who ask for a fee to apply on a founder's behalf are not connected to it.

Contact

The office is at Plot C-24, G Block, Bandra Kurla Complex, Bandra East, Mumbai. General enquiries go to nabventure@nabard.org and the phone number is +91-22-26539149. The site also lists a portfolio page, a team page and a board of directors page.