Cremica Food Industries, makers of condiments and has raised $15 million (Rs 100 crore) from Rabo Equity Advisors, investment advisors for India Agri Business Fund II. This is the first investment from the new fund focused on sectors including food services, agro chemicals and seeds, cold storage and agriculture technology.
Cremica has been in the market to raise an institutional round to augment its geographical reach in retail outlets across Southern and Western India. The company had also offered to buy-back shares from its previous investors Motilal-Oswal earlier this year. “From the previous fund we have exited three companies and two partial exits, the remaining should happen over the next two years. As a growth-stage fund, we are tracking close to 42 sub-sectors in food and agri and plan to invest in 10-12 companies with the fund-II,” said Rajesh Srivastava , CMD of Rabo Equity Advisors.
Source: Economic Times
Image Courtesy: avcj.com
