NABVENTURES CEO Rajesh Ranjan quits to start own growth-stage fund
NABVENTURES is a venture growth equity fund that invests in agriculture, food, rural businesses and agri/rural financial services at early to mid-stage.
Rajesh Ranjan, CEO of NABARD's venture arm NABVENTURES Limited, has quit the VC to set up his own growth-stage fund.
NABVENTURES is a venture growth equity fund that invests in agriculture, food, rural businesses and agri/rural financial services at early to mid-stage.
Ranjan joined the VC in 2018, and played a pivotal role in raising the initial fund, amassing Rs 598 crore. By September 30, 2023, NABVENTURES achieved 47% IRR (Internal Rate of Return).
At NAB Ventures, Ranjan invested Rs 315 crore in 13 companies like Vilcart, Beyond Snack, and Jai Kisan, and oversaw an exit from Fraazo. The VC fund recently led investment in Bharat Housing Network, a housing co-lending technology platform, with a Rs 125 crore Series A infusion, marking its seventh investment in 2023.
It is backed by the National Bank for Agriculture and Rural Development (NABARD) and has LPs from various banks.
"Looking at the stellar track record, for the first time in India even private sector contributors invested in NABVENTURES Fund, a public sector fund," the company said in a statement.
A seasoned professional with experience managing funds for entities like Q Investments LP and IDFC Proprietary Equity Investments, Ranjan has an MBA from IIM Calcutta and an Economics degree from St. Stephen's College.
Edited by Kanishk Singh