Omnivore closes $150MN fund to invest in agritech startups that address climate change

NEW DELHI, 27 July 2023: Omnivore, an impact venture capital firm focused on agriculture and food, announced today that it has closed its third fund at $150 million. The fund, which was oversubscribed, will invest in early-stage agritech startups and MSMEs in India.

Omnivore’s third fund will focus on startups that are developing breakthrough technologies to address the challenges facing Indian agriculture, including climate change, food security, and rural poverty. Key themes for new investments include agrifood life sciences, rural fintech, and climate-smart agriculture.

The fund has already made several investments, including in the startups Eruvaka, MITRA, and Stellapps. Omnivore expects to make 25-30 new investments in the next few years.

“The greatest risk and opportunity for Indian agriculture are the adverse effects of climate change,” said Mark Kahn, Managing Partner at Omnivore. “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.”

The investors in Omnivore’s third fund 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.

About Omnivore

Omnivore is an impact venture capital firm focused on agriculture and food. The firm was founded in 2011 by Mark Kahn and Jinesh Shah, and has invested in over 40 startups to date. Omnivore’s portfolio companies are working to make farming more profitable, resilient, sustainable, and climate-proof.

The firm’s headquarters are in New Delhi, India, and it has offices in Bengaluru and San Francisco.