Assam Rural Infrastructure and Agricultural Services (ARIAS) Society, an autonomous body under the Government of Assam signed a Memorandum of Understanding (MoU) with Caspian Impact Investment Adviser Pvt. Ltd. (Caspian Equity), a venture capital institution that invests in social impact enterprises. 

This collaboration is expected to strengthen rural infrastructure and foster agricultural productivity in the state of 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 sector-specific fund that focuses on boosting agricultural productivity and employment generation in the state. It will mainly invest in small and medium enterprises in the agribusiness and allied sectors to achieve accelerated growth.

Akash Deep, IAS, State Project Director, ARIAS Society, said, "The partnership is aimed at identifying and addressing key challenges faced by the rural communities in Assam. It will open up new avenues for us to advance our efforts in rural development. By leveraging our collective strengths and through targeted investments, the initiative will enable farmers and rural entrepreneurs of Assam to adopt sustainable agricultural practices and advanced technologies to enhance efficiency and reduce environmental impact."

Saurabh Johri, Executive Director and CEO, of Caspian Impact Investment Adviser Pvt. Ltd., said, "We are delighted to collaborate with ARIAS in our shared mission to catalyze the economic development of Assam's rural communities. By combining our investment expertise with ARIAS's deep-rooted knowledge and experience, we aim to make a sustainable impact and empower individuals to thrive. Mr. Ravi Narasimham, Investment Director, Caspian, will lead the fund and we look forward to build on a partnership with ARIAS to enable the creation of a prosperous and empowered rural community.