Local government ministries in the country are setting up a fund that will back start-ups focused on the biotechnology sector.
Andrew Freeman has joined H.I.G. Middle Market’s San Francisco office to make investments in the food and agribusiness sectors from the firm’s $1.75bn fund.
Pipeline chief executive officer Eric Jackson spoke with Agri Investor about the current state of those supply chains, the role Pipeline hopes to play in increasing organic acreage and attractive investment areas the firm has identified.
As of press time, 54 of 68 respondents, or 79 percent, said their agri investments would increase in 2017, while 10 said they anticipate a decrease and just four said they would remain the same.
AgCap has hired CBRE to sell the fund’s assets following a unanimous decision by its foundation investors, which include AustralianSuper and AMP Capital, to exit the fund despite double-digit returns.
Lewis & Clark Ventures and Prelude Ventures co-led the funding round.
Nearly one percent growth in average Iowa farmland prices seen over the past six months was not enough to counter the declines seen in the first half of the past year, according to a recent survey.
Canadian prime Minister Justin Trudeau was in attendance at the inauguration of the Anjou greenhouse, as the investment was made possible in part due to the reinstatement of a federal tax credit supporting VC funding.
OPIC has committed up to $75 million to the fund manager’s second agricultural fund, which like its predecessor will target the food and FMCG value chain in sub-Saharan Africa.
The investment was made from 8 Miles’ first fund, Fund I A, which closed in August 2013 on roughly $200 million, sources confirmed to Agri Investor.