Assam Govt Signs Mou With Caspian Impact Investment Adviser

New Delhi
Assam Rural Infrastructure and Agricultural Services (ARIAS) Society, an autonomous body under the Assam government signed a Memorandum of Understanding (MoU) with the Caspian Impact Investment Adviser Pvt. Ltd. (Caspian Equity), a venture capital institution that invests in social impact enterprises. This collaboration marks a significant milestone in the pursuit of strengthening rural infrastructure and fostering agricultural productivity in Assam. Under the partnership, ARIAS will be the nodal agency for establishing and implementing a contributory and determinate investment trust — the Assam Agribusiness Investment Fund (AAIF).
ARIAS is designated as the anchor investor for the AAIF, which will be managed by Caspian Equity as the fund manager. With anchor funding from the World Bank through Assam Agribusiness and Rural Transformation Project (APART), AAIF will operate as a Category-II Alternative Investment Fund registered with the Securities and Exchange Board of India (SEBI). With a corpus of Rs 250 crore, AAIF is a unique sector-specific fund through a state government in India, focusing on boosting agricultural productivity and employment generation in the state.
Toshiaki Ono, Finance Sector Specialist, World Bank Group, said, The World Bank is committed to supporting food value chain development in Assam in response to the growing demand for high-value food products. Agribusiness SMEs play a vital role in this transformation but external finance, especially long-term and patient capital for their growth is extremely limited. We are very much excited to launch the Assam Agribusiness Investment Fund with the Assam government, the ARIAS Society, and the Caspian Impact Investment Advisor. We are confident that the Fund will support high-growth and high-impact agribusiness SMEs for vibrant and resilient agri-food value chains in Assam.