Meet today on venture capital for agribusiness

Patna: To support the entrepreneurs facing difficulty in generating funds, the PHD Chamber of Commerce and Industry (PHDCCI) is to organize a conference on venture capital in agribusiness in Bihar at Hotel Maurya on Friday.
PHDCCI chairman Satyajit Singh said the main objective of the conference is to make investors aware about potential of agribusiness in Bihar and at the same time help businessmen get suitable partners who can pump money in their project.
“Bihar is a state where agribusiness can flourish as raw material is available in abundance. But the problem is that no bank is interested in providing working capital due to huge investment as the raw material is generated in particular season and needs to be stocked for a very long period ranging from six to eight months. Therefore, the only option for those engaged in agribusiness is to generate funds through venture capital where investors readily pump funds after weighing the options depending on the prospects,” said Singh who managed to get support from a number of investors for his agribusiness.
He said, “I was also not getting working capital for my business. So, I opted for venture capital where investor has a share in the profit and, thereafter, money was not a problem.”