Diversified company IB Group on Friday said it has set up a Rs 200 crore venture capital fund for equity investments in startups working in the field of agriculture and poultry sector.
The group will provide 25 per cent loan-free investment for a period of three years. It will also provide free farm management training for investors who grow their business through this investment scheme, the company said.
“The company has announced its investment scheme ‘Parivartan Gen Nxt’ with Rs 200 crore venture capital (VC) fund for equity investments to boost agri-tech startups,” Chhattisgarh-based IB Group said in a statement.
Company’s Managing Director Bahadur Ali said through this investment scheme, startups will get an exciting entrepreneurship path.
“We will create an entrepreneurial environment for Indian agripreneures by providing them modern technology used in the US and Europe in India itself,” he added.
The IB Group has presence in poultry, FMCG, solvent, livestock feed, specialized pet food and hospitality segments. PTI LUX LUX