Yes Bank launches Food and Agribusiness India Fund

Mumbai, May 30 (UNI) Yes Bank today announced the launch of India's first Food and Agribusiness India Fund, a USD 100 million private equity fund, for the Bank's current and potential customers as a component of the Food and Agribusiness sector strategy.

The objective of the fund is to identify the potential market leaders of tomorrow.

The fund plans to invest the entire amount in next 1-2 years with investment of between USD 5 million and 7.5 million per company. The fund is targeting an average annualized return of 20-25 per cent.

In a statement here today, Mr Rana Kapoor, Founder Managing Director and CEO, Yes Bank, said, ''Food and Agriculture is a segment which offers great untapped investment potential with various factors furthering its growth such as rapid economic development and new business opportunities. With this first of its kind niche offering, we aim to harness this potential. With our expertise and experience in knowledge banking for sunrise sectors such as food and agriculture, we are confident of building a diversified portfolio of 10-15 investments, across the food and agribusiness sector in next 1-2 years.'' UNI AR MAZ VKG1805