The two investors have each committed A$8m to the first fund raised by Tenacious Ventures, billed as Australia’s first agtech-focused venture capital fund.

The California start-up’s product launch will be led by its fall armyworm pheromone, which has spread from the Americas to Asia and Africa.

The Ferment Fund will exclusively support companies that have been spun out from Ginkgo and will benefit from full access to the company’s platform for cell programming.