Anterra second close led by Eight Roads – exclusive

Anterra Capital has held a second close of its Food and Agriculture Technology Fund on $125 million, with Eight Roads as the largest investor.

The fund’s only investors are Rabobank and Fidelity International Limited’s investment arm Eight Roads, an Anterra spokeswoman told Agri Investor. Eight Roads was Anterra’s lead investor in 2013, when the firm held a first close on $50 million, and is still the fund’s biggest investor.

The fund, which is the largest of its kind in Europe, has made investments in seven companies, including agdata start-up Farmobile, digital phenotyping equipment and software maker Lemna Tec, protein preservation technology company Bluwrap and low-cost water desalination company Voltea.

The fund invests in “significant minority stakes of up to approximately $20 million, [focusing on] innovative commercial technologies and services to the global food supply chain including agro inputs, precision farming, logistics, and consumer safety”, according to a statement from the firm.

Its president Cyrus Jilla said in a statement: “Our increased investment underscores the strong investment opportunity presented by the global food and agricultural technology space.

“This is a sector which has traditionally been viewed as a laggard in technical innovation and as a result has been largely overlooked by venture capital. We already see significant areas of overlap between Anterra’s investment focus and our existing global venture capital activities in the life sciences and technology sectors.”

“The global food system needs innovative solutions, but building companies in the complex and conservative food sector can be challenging,” added Anterra managing partner Adam Anders on Tuesday at the World Agri-Tech Summit.

Anterra, which spun out from Rabobank’s investment arm Rabo Private Equity has offices in Amsterdam and Boston. The firm said this made the vehicle the first independent food and agriculture fund with a presence in Europe and the US.