Omnivore announces first close of its third fund at $150M

Venture capital firm Omnivore has announced the first close of its third fund, securing $150 million in investments.

The firm's latest fund, the Omnivore Agritech and Climate Sustainability Fund, was launched in April 2022 and aims to support startups that are developing breakthrough technologies in the fields of agriculture, food, climate, and the rural economy.

The first wave of investors in the fund includes prominent names such as KfW, Self Reliant India (SRI) Fund, FMO, SIFEM, the International Finance Corporation (IFC), the Bill and 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.

According to Mark Kahn, Managing Partner at Omnivore, climate change poses both a significant risk and an opportunity for Indian agriculture. In response, the firm's new fund will focus on supporting startups that address climate mitigation and adaptation in agriculture. By catalyzing climate action in this sector, Omnivore aims to contribute to the resilience and sustainability of Indian agriculture.

With the launch of their third fund, Omnivore plans to make between 25 and 30 new investments in seed and series A rounds of agritech startups and MSMEs (Micro, Small, and Medium Enterprises). The initial funding amounts are expected to range between $1 million and $5 million. This significant capital injection will enable promising startups to accelerate their growth and bring innovative solutions to the agritech industry.

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