The impact investment firm has partnered with AIC Raise to evaluate ventures in the Indian alternative food ecosystem
Start-up incubator AIC Raise has teamed up with budding venture capital firm Grover & Company to evaluate, mentor and bootstrap early-stage ventures in the Indian alternative food ecosystem.
AIC Raise is the country’s first start-up incubation centre and is supported by Atal Innovation Mission of NITI Aayog, the government of India’s policy think tank.
Focusing on the UN’s Sustainable Development Goals, AIC Raise is creating a holistic ecosystem for social start-ups to maximise profits and benefits to society and the environment.
Grover & Company entered the venture capital market in August, founded by Amit Grover. The firm is raising $50 million for its maiden fund.
“We will be reaching an oversubscribed status,” Grover told NutritionInvestor. He revealed the firm is working on the formation process of the master-feeder structure in the Dubai International Financial Centre, and that work is under way in the UAE.
Grover & Company’s investment thesis targets early-stage companies in six specific categories:
- Plant-based food and drink
- Contract manufacturing and distribution
- Medicinal cannabidiol
- Cannabidiol and hemp skincare
- Hemp nutrition
- Cultivated meats
Grover revealed the fund’s first investments will be announced in the summer.
Date published: 12 February 2021