British International Investment

India Agri Business Fund II Limited

IndiaSouth AsiaConsumer - other servicesFood & Agriculture

Rabo Equity’s India Agri Business Fund 2 (IABF 2) is a private equity fund which invests in growing businesses across the agribusiness sector. This includes infrastructure, food processing, rural retail, and cold chain storage and distribution companies.

The fund focuses on the food processing sector.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

In December 2014, CDC committed $30 million in IABF 2. The fund raised $150 million which it uses to back between 12 and 15 small and medium sized companies with equity investment sizes ranging from $5 million up to $30 million.

We hope to see a significant share of our investment benefiting the low-income states in India where a large number of agribusinesses are based.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

Indian agribusiness is a fast-growing domestic market, where increased demand for food products has been fuelled by rapid growth in disposable incomes and demographic change.

But the sector continues to face limitations such as poor quality farm services, shortfalls in warehousing and cold chain facilities, as well as fragmented retail markets.

Investments to modernise food and agribusinesses – and reduce food waste – are urgently needed and will have a direct impact on reducing poverty.

IABF 2’s predecessor, India Agri Business Fund 1, was the country’s first dedicated agribusiness fund. It has made ten investments in companies including Super Agri Seeds, Prabhat Dairy and NCML.

Rabo Equity is also looking to attract global institutional investors to support its plan to double investments in the country.

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We work closely with the fund manager to develop and implement an ESMS that has the capacity to manage the higher level of environmental and social risk associated with this sector.

Understanding our approach to environmental and social risk (PDF)

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at enquiries@bii.co.uk

  • Key facts
    Last updated

    When the last quarterly update of the website database occurred.
    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.
    :
    D214
    Status

    The current status of the investment (green flag for active and red flag for exited).
    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
    :
    South Asia
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Consumer - other services, Food & Agriculture

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.
    Investment type :
    Fund
    Start date :
    October 2014
    Amount :
    $30m
    Currency of investment :
    USD
    Fund Manager:
    Rabo Equity Advisors
    Domicile

    The company or investment fund’s place of incorporation.
    :
    Mauritius

    Download as PDF

    Click here to read our data guidance

Investments made by this fund into companies:

For further information about these companies, visit http://www.raboequity.com/

Investment name Country Region Sector Start date Status
Cremica Food Industries Limited India South Asia Food & Agriculture June 2016 Active
Global Gourmet Pvt. Ltd India South Asia Food & Agriculture February 2018 Active
Nature Bio Foods India South Asia Food & Agriculture November 2018 Active
Naturell India Pvt Ltd India South Asia Food & Agriculture April 2018 Active
Olive Bar and Kitchen Pvt Ltd India South Asia Consumer - other services November 2017 Active
Parijat Industries (India) Private Limited India South Asia Food & Agriculture June 2016 Active

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