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The Silicon Review India

A $70 million Venture now Started by Pioneers for a Rural Impact

A $70 million Venture now Started by Pioneers for a Rural Impact

The pioneering ventures of Zurich along with an Indian – based Agri-food investor has launched a $70 million private equity fund. This is initiated to get growth capital for these companies in India. There are currently five companies that will be focusing on this mission and these firms are concentrating mainly on agriculture, food supply chain and farm credit. Desai Fruits & Vegetables who are famous for exporting bananas is one of these companies. Along with Desai Fruits & Vegetables, it is Citrus International which will be one of the five companies; it is one of the largest producers of citrus concentrate along with the by-products in India, South East Asia, and the Middle East.  FarmLink the fruits and vegetables supply chain company, Samaaru, the technology enabling value chain and financial services company will also be part of this venture. Finally, MilkLane had also decided to be part of this project.

According to reports, the European venture is planning to invest in capital expenditure on these firms for the next two years. The firm is expecting sales and it is said to triple to $300 million in the time frame it will be functioning.

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