Proparco, a subsidiary of the Agence Française de Développement (AFD) Group, has made its first venture capital investment in India by committing $5 million to Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund. This investment aligns with Proparco’s broader mission to strengthen private sector capabilities in developing countries and marks a significant step towards fostering agritech and climate resilience.
Omnivore, an impact-driven venture capital firm, focuses on supporting startups that drive agrifood innovation, rural transformation, and climate action in India and Southeast Asia. The firm has previously invested in companies such as Fibmold, Optimo, Sid’s Farm, and Scimplify. Jinesh Shah, Managing Partner at Omnivore, highlighted the global potential of this partnership, stating that Proparco’s backing will help scale agritech innovations globally, contributing to resilient and equitable communities worldwide.
Proparco, active in India since 2009, has been committed to reducing inequality and enhancing climate change adaptation. Diane Jegam, Proparco’s South Asia Director, emphasized that this investment is a strategic move towards fostering a sustainable and resilient economy in India, particularly by empowering small-scale farmers to adapt to climate change.
Additionally, this partnership underscores growing Indo-French collaboration in innovation. Thierry Mathoum, the Ambassador of France to India, noted that this investment is a crucial milestone ahead of the India-France Year of Innovation in 2026.
Proparco continues to expand its operations across Africa, the Middle East, Asia, and Latin America, partnering with various entities to promote sustainable development worldwide.
Summary:
- Proparco invests $5 million in Omnivore’s third agritech and climate sustainability fund, marking its first venture capital investment in India.
- Omnivore focuses on supporting startups driving agrifood resilience and climate action across India and Southeast Asia.
- The partnership highlights Indo-French collaboration, as Proparco and Omnivore aim to foster sustainable, resilient economies while addressing climate change and rural transformation.