Ajinkya Rahane plans to become a seed investor in an agri-tech startup along with his friends and associates. He belongs to a farmer family in Sangamner, Ahmednagar. He in collaboration with the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), Pune, will reach out to startups and small-scale companies.
According to the media reports MCCIA would be curating the whole process of identifying and selecting the startups that and the final decision of investing would be taken by Rahane and his team of investors.
“The first seed investment would be made by end of December 2022 and the minimum other three investments by end of March 2023. Apart from Ajinkya, three more individuals have expressed their interest to invest in the fund,” said MCCIA.
“Farmers are our heroes and I always wanted to contribute towards their financial empowerment. I have made some investments prior to this fund; however, I was looking for an institutionalised and structured form of funding for agri-tech start-ups. Even though the funding will be in form of equity, I am not looking at monetary returns but want more in terms of a higher direct monetary positive impact on farmers,” said Ajinkya Rahane.