Omnivore Announces First Close of Third Fund At $150 Million

Omnivore
2 min readJun 28, 2023

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L-R: Subhadeep Sanyal, Mark Kahn, Jinesh Shah, & Reihem Roy

We are pleased to announce the first close of our third fund at $ 150 million. The Omnivore Agritech & Climate Sustainability Fund, which was launched in April 2022, will continue focusing on startups developing breakthrough technologies for agriculture, food, climate, and the rural economy. First close investors include KfW, the Self Reliant India (SRI) Fund, FMO, SIFEM, the International Finance Corporation (IFC) with support from the Bill & Melinda Gates Foundation Inclusive Agritech Facility, Louis Dreyfus Company Ventures, the Dutch Good Growth Fund (DGGF), the Belgian Investment Company for Developing Countries (BIO), and Yara Growth Ventures.

Omnivore was founded in 2011 by Mark Kahn and Jinesh Shah to fund Indian startups building the future of agriculture and food systems. The VC firm pioneered agritech investing in India, and over the past decade we have backed over 40 startups which are making farming more profitable, resilient, sustainable, and climate-proof. We raised $ 82 million for our second fund, which had a final close in April 2019. Some of our portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.

Over the past year, we exited two agritech startups, delivering strong returns to our investors. In July 2022, we sold our stake in aquaculture IoT startup Eruvaka to Nutreco, a global leader in animal nutrition and aquaculture, realizing the largest exit in Indian agritech to date. Later, in March 2023, we sold our stake in precision sprayer manufacturer MITRA to farm machinery giant Mahindra.

With our third fund, we expect to make 25–30 new investments in Seed and Series A rounds of agritech startups and MSMEs, with initial cheque sizes ranging between $ 1 million and $ 5 million. Key themes for new investments include agrifood life sciences, rural fintech, and climate-smart agriculture.

Says Mark Kahn, Managing Partner at Omnivore, “The greatest risk and opportunity for Indian agriculture are the adverse effects of climate change. Our new fund will have a sharper focus on catalyzing climate action in agriculture by funding startups addressing climate mitigation and climate adaptation.”

Jinesh Shah, Managing Partner at Omnivore, noted, “We are grateful to our investors who share Omnivore’s vision of making India an agritech superpower which positively impacts the lives of smallholder farmers globally.”

Omnivore is an impact venture capital firm, based in India, which funds entrepreneurs building the future of agriculture and food systems. For more information, please visit: https://www.omnivore.vc/

For exclusive updates on the agri food sector in India, subscribe to our monthly newsletter Omnivore Harvest, here. To join our agritech-obsessed community, follow us on LinkedIn, Instagram, Twitter and Medium.

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Omnivore

Omnivore is a venture capital firm, based in India, which funds entrepreneurs building the future of agriculture and food systems.