NABVENTURES is among the best performing VC funds in India with estimated IRRs of 400% approximately.
NABVENTURES Fund-I, the flagship fund of NABVENTURES Ltd., a wholly-owned subsidiary of NABARD, has made its first exit, at 2.5x the invested amount in a span of 3 months. The fund exited VnF Ideas Private Limited (FRAAZO), a direct-to-consumer (D2C) brand in the fresh fruits and vegetable space. Apart from providing capital, NABVEBNTURES also facilitated access to its FPO network to the company and helped to accelerate its procurement from the farm gate. NABVENTURES is a wholly-owned subsidiary of National Bank for Rural and Agriculture Development (NABARD) and a venture growth equity fund that invests in agriculture, food, rural businesses and agri/rural financial services at early to mid-stage.
In a short span of 12 months, NABVENTURES has invested INR 94 crore in 6 start-ups, with three start-ups (Jai Kisan, Unnati and Fraazo) having received follow-on investments at a 3-5x upside to the fund’s entry valuation. TenderCuts, the fourth start-up, is in the process of raising its next round.
NABVENTURES is among the best performing VC funds in India with estimated IRRs of 400% approximately. Apart from NABARD, the fund has SIDBI Fund of Funds, LIC, Union Bank of India as its contributors. The fund is also in advanced stage of discussions with other banks, insurance companies and family offices to achieve its target corpus of INR 700 crore.
Speaking on the development, NABVENTURES Chairman, Dr. G. R. Chintala stated that, “We are proud that in a short period of 12 months, NABVENTURES Fund has emerged as the best performing agri-foodtech VC fund in India today”.
Rajesh Ranjan, CEO of NABVENTURES added “Fraazo is the first proper exit in the agtech space for any agtech VC fund in a long time. The hard work of our team has paid off in a big way as almost all our portfolio companies have raised or are in the process of raising next round at 3-5x our entry valuations. We are disciplined investors and this timely exit will enhance the confidence of LPs in the d2c and agritech space.”