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Impact investor Omnivore raises USD 97 Mn for second fund

Apr 25, 2019 by The Passage Team
Impact investor Omnivore raises USD 97 Mn for second fund

Impact investment firm Omnivore has raised USD 97 million for its second fund, higher than the targeted USD 75 million.

Economic Times reported that UK’s CDC Group, Dutch development bank FMO, Swiss Investment Fund for Emerging Markets, Belgian Investment Company for Developing Countries, BASF Venture Capital, Japan-based Mistletoe and various family offices have chipped in for the round.

Omnivore invests in early-stage impact startups which focus on using technology to transform agriculture.

Mark Kahn, managing partner of Omnivore, told ET, “We want to support entrepreneurs who are working to disrupt food systems across India, making agriculture more profitable, stable, and sustainable.

The early stage venture investment firm was launched in 2011 by Mark Kahn, who has a background in agribusiness, and Jinesh Shah, who was previously CFO of Nexus Venture Partners.

It has made 5 investments — ranging from USD 500,000 to USD 4 million — from its second fund till date. Doodhwala, the startup which delivers milk and daily essentials on a subscription basis, is one of them. It raised USD 12 million (around Rs 85 crore) in a Series A round in November last year. TartanSense, which is developing small robots for small farms, is another.

It has also invested in Chandigarh-based agri-analytics startup AgNext and co-invested in Gurugram-based online marketplace for farm products and services DeHaat.

Omnivore intends to make around 20 investments in the second fund, averaging five per year.

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

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