Cricketer Ajinkya Rahane is set to become a seed investor. Along with his associates and friends, Rahane would be investing in agri-tech startups.
Rahane comes from a farmer family in Sangamner, Ahmednagar, and the cricketer says he picked up the cricket bat for the first time at the farm where his grandmother worked on their family land along with his uncle.
Rahane has collaborated with the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), Pune, to reach out to startups and small-scale companies. Prashant Girbane, director-general of MCCIA, said they would be curating the whole process of identifying and selecting the startups that and the final decision of investing would be taken by Rahane and his team of investors. This was part of the initiative to support agri-tech startups that provide technology-based solutions to various agriculture-related problems.
“Unlike conventional investors, our focus is more on the impact the start-ups can make on farmers’ income and not on the return on investments,” Rahane said. He will start with a Rs 1 crore fund and will make the first investment next month. More investors are expected to join in with around three investors committing to invest.