<article>Orkla Group, the Norwegian parent company of <a href="http://dealstreetasia.com/tag/mtr-foods" target="_blank" rel="noopener">MTR Foods</a>, has  set up a venture fund to invest in early-stage firms  in India, according to <a href="http://epaperbeta.timesofindia.com/index.aspx?eid=31815&amp;dt=20170830" target="_blank" rel="noopener">a report</a> in The Economic Times.</article>

Orkla Group, the Norwegian parent company of <a href="http://dealstreetasia.com/tag/mtr-foods" target="_blank" rel="noopener">MTR Foods</a>, has  set up a venture fund to invest in early-stage firms  in India, according to <a href="http://epaperbeta.timesofindia.com/index.aspx?eid=31815&amp;dt=20170830" target="_blank" rel="noopener">a report</a> in The Economic Times.
With a corpus of Rs 50 crore ($7.8 million), the MTR Seed Fund plans to invest primarily in food tech-related startups in India over 2017 and 2018.
“We are mainly looking at early stage startups, these could be tech startups that fit with our current business or startups in sectors that focus on creating innovative food products, production tech, packaging technology or distribution,“ Peter A Ruzicka, president, Orkla Group, told the news paper.
Earlier this year, Orkla had established Orkla Venture to look at investing directly in startup companies. The company had allocated NOK 100 million to this initiative.
MTR Seed Fund, is the first such fund set up by the Orkla Group outside of Scandinavia.
According to the news report, they are also open to acquiring a startup that might complement its current business in India or one that might have the potential to become a global product. It had earlier acquired Pune-based spice maker Rasoi Magic in 2011.
“We have a long-term approach, so we may invest in one to 20 startups. Depends on what we find attractive, we may acquire a startup or sell to a private equity fund as an exit strategy,“ said Ruzicka.
The company will invest and have a stake ranging between 26 per cent and 49 per cent in the startups. Once selected the startups will have access to MTR Foods&#8217; resources such as branding, legal assistance, treasury and accounting services, among others.
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Orkla Group, the Norwegian parent company of MTR Foods, has  sets up venture fund with a corpus of Rs 50 crore to invest in early-stage firms in India.

MTR Foods' parent firm Orkla sets up early-stage investment fund for India

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MTR Foods' parent firm Orkla sets up early-stage investment fund for India

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