23 May SEAF Fund invests in India-based Manisha Agri Biotech Limited
Small Enterprise Assistance Funds’ (SEAF) India Agribusiness Fund has completed an investment in Manisha Agri Biotech Limited, an India based biotech firm that develops and produces hybrid and open pollinated seeds for commercial use.
SEAF India Agribusiness’ equity investment in the company is for the amount of USD $3.65 million. The funds are to be used for research & development, improvements to seed conditioning and storage, and increased support to farmers. Manisha Agri Biotech Ltd. is engaged in the research and development of new varieties of seeds, their trial growth, the commercial production and the marketing of cultivated seeds. Seed varieties include hybrid and elite open pollinated (OP) seeds, including new innovative seeds of field crops and vegetables crops. Manisha’s new seed varieties are being developed with better productivity results, greater uniformity, improved color and disease resistance.
SEAF has researched the Indian agriculture and seed industry and is optimistic regarding the near future. The Indian farm and agriculture industry is forecasted to grow in the coming years. An expanding population in India and worldwide leading to fears of food shortages, the recent economic slowdown of India and the government’s refocus on the agriculture industry are among the factors causing a shift in Indian economic policy in favor of agriculture and farming. New and improved technologies, new markets and demands, a push in organic produce, rapid growth of contract farming, and agriculture-friendly policies from the government make the industry ripe for investment.
- SEAF is an SEC registered investment adviser to international private equity funds through which it has invested growth capital and provided business support to growth-oriented small and medium-sized enterprises (SMEs) in frontier and emerging markets for over two decades. With assets under management (AUM) of USD 435 million, SEAF’s funds identify and support promising entrepreneurs while seeking to provide attractive returns to its investors. SEAF manages its funds through a network of 22 offices around the world, with its headquarters in Washington, D.C