Investor Profile: NABARD - Thesis, Cheque Size & How to Apply

NABARD, the National Bank for Agriculture and Rural Development, is India's apex development bank for agriculture and rural development, established in 1982 and headquartered in Mumbai. This profile covers NABARD itself as a funder of agri and rural start-ups, not NABVENTURES, its wholly owned subsidiary fund manager, which already has its own separate profile.

What NABARD backs

NABARD backs innovative, technology-driven, high-risk and high-impact activity in the agriculture and rural start-up ecosystem. Its flagship start-up vehicle is the AgriSURE Fund, formally the Agri Fund for Start-ups and Rural Enterprises, a SEBI-registered Category II Alternative Investment Fund sponsored by the Ministry of Agriculture and Farmers Welfare, the Government of India and NABARD. Target sectors include agritech, food processing, animal husbandry, fisheries, supply chain management, farm mechanisation, biotechnology, waste management, renewable energy, support for farmer producer organisations, technology support at farm level, and climate change.

Fund size and cheque size

The AgriSURE Fund has a total corpus of Rs 750 crore, made up of Rs 250 crore from the Government of India, Rs 250 crore from NABARD, and Rs 250 crore to be mobilised from other institutions. It runs two schemes: the AgriSURE FoF Scheme, with a corpus of Rs 450 crore, which backs SEBI-registered Category I and II funds that invest onward into start-ups, contributing up to the lower of 5 percent of a fund's corpus or Rs 25 crore per fund; and the AgriSURE Direct Scheme, with a corpus of Rs 300 crore, which invests directly in early-stage start-ups up to Rs 25 crore per start-up. The fund aims to support approximately 85 start-ups over a duration of 10 years, extendable by two years.

Notable portfolio companies

The first investment announced under the AgriSURE Fund was Fambo Innovation Pvt Ltd, which connects farmers and farmer producer organisations with food businesses, announced at the Global Fintech Festival in October 2025. Other firms reported as supported through the fund's ecosystem include Kuberjee Tech Pvt Ltd, NAVADHAN Capital and SLO Technologies (Advarisk). Before AgriSURE, NABARD had already contributed to other funds in the space, reporting Rs 273 crore committed to 16 alternative investment funds in 2019.

Partners and support beyond capital

NABARD's backing brings more than money: its sponsorship alongside the agriculture ministry, its rural network, and its focus on farmer producer organisations give portfolio companies a route into farm value chains that a generalist fund cannot offer. No cloud-credit or perks programme for start-ups was found in the fund's published material, so founders should value the sector network and patient public capital rather than credits.

How to apply for funding

For the AgriSURE Direct Scheme, a start-up must be recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), incorporated in India, and beyond the ideation and prototype stage, with steady revenue and a differentiated business model in agriculture or rural development. Start-ups or funds interested in the fund can reach out to the fund's investment manager at [email protected]. Meeting the eligibility criteria does not guarantee funding: each case is judged on merit, and the investment manager's decision is final.