India-based poultry product supplier IB Group has formed a Rs 2bn ($28m) strategic investment fund, Hindu BusinessLine has reported.
Founded in 1985, IB’s central business focuses on its chicken and egg supply, though it has diversified into areas such as livestock feed, pet food, solvents and hospitality.
The newly formed vehicle will however concentrate on the company’s core business, investing in startups in the poultry and agriculture space. IB will also offer farm management training for portfolio companies.
Bahadur Ali, managing director of IB Group, was quoted by BusinessLine as saying: “Through our investment scheme, younger generations will get an exciting entrepreneurship path, which they were earlier exploring in various employment opportunities.
“We will create an entrepreneurial environment for Indian agriprenuers by providing them modern technology used in the US and Europe in India itself.”
The company is yet to publicly disclose any corporate venturing investments and has not revealed who will be heading the unit. Other major poultry producers to have explored CVC include the US-headquartered Tyson Foods.
