Yes Bank has launched a $100 million food and agribusiness India fund. The private equity fund plans to invest the entire amount in the next 1-2 years, with an investment between $5 million and $7.5 million per company. It is targeting average annualised returns between 20 per cent and 25 per cent. | |
| The bank is in talks with 10 investors, including insurance companies, bilateral institutions and commercial banks who have expressed an interest in contributing to the corpus. |
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| The fund will invest in companies operating in fruits and vegetables such as grain-based products, milk and milk-based products, poultry, spirits and beer, tea and coffee, confectionery, farm seeds, food services, food retail, food logistics and agri-infrastructure, including agri-market and cold storages sectors. |
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| Rana Kapoor, managing director and chief executive officer, Yes Bank said, "We are confident of building a diversified portfolio of 10-15 investments across the food and agribusiness sector in the next 1- 2 years. We have a fair pipeline and the fund will begin investing by September end." |
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| The bank will support the fund in deal sourcing, supporting investee companies' growth plans through debt facilities, syndication, mergers and acquisitions, and advisory support to facilitate business expansion. |
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| It will also play an active role in facilitating exit from investments through appropriate routes such as financial or strategic sale and initial public offering. |
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