Omnivore, an agritech venture capital company, is arranging a new $130 million (Rs 1000 crore) fund focused on agriculture, food, climate change, and rural development.

This is the investor's third fund, and the new fund is slated to conclude in September 2022. The investment group plans to sponsor 25-30 new start-ups with this fund over the following four years.

The venture capital firm often invests in seed, pre-series A, and series A rounds, as well as follow-on funding for potential expansion.

Earlier, Omnivore announced the OmniX Bio initiative earlier this year to provide extra support to agri-food life science entrepreneurs, with an initial focus on agricultural biotechnology, novel farming systems, bioenergy and biomaterials, and creative foods, including alternative protein.

Omnivore hopes to expand OmniX Bio's reach and effect with the new fund, as well as help India's agri-food life sciences ecosystem get back on its feet.

“Through Omnivore’s investments, we have touched the lives of almost seven million smallholder farmers, improving their profitability and resilience, while creating value for our investors”, says Mark Kahn, managing partner, Omnivore.

Omnivore manages Rs 936 crore in two funds, the most recent of which closed in April of this year. DeHaat, Arya, Reshamandi, Stellapps, AgNext, Bijak, Ecozen, AGRIM, Eruvaka, Pixxel, and Animall are among Omnivore's top portfolio firms.

“This fund will have a sharper focus on catalyzing climate action in agriculture, backing start-ups addressing both climate mitigation like reducing India’s GHG emissions and climate adaptation and resilience like securing a future for India’s farmers”, adds Kahn.