Fundraising

Co-founder David Rosenberg says he saw risk in allowing other companies’ technology to define the category for public market investors.

The San Francisco-based start-up launched an Asia-based JV with Proterra Investment Partners last year and won the global race to have cultured meat product approved for consumption.

Crowdfunder FarmTogether has identified a $1.1trn opportunity in the US within the $1m to $10m segment of the market, which it believes will appeal to institutional investors.

Managing partner Emanuel Citron says ag and water are both of interest to the firm’s strategy of pursuing impact through investments into asset managers and financial services firms.

The start-up has been involved in farmland assets with double-digit values and expects to be ‘active across the spectrum of size,’ says CEO Carter Malloy.

Ben Craw, MD at Oxley Capital Partners, says investors have a positive view that many businesses will return to pre-covid revenue levels soon, if they have not already done so, which is fueling activity.

Board member Geoff Duyk says the company’s use of nutrients from wastewater bacteria and food and ag refuse reflects an evolving approach to waste across sectors of the US economy.

Robert Tichio says the $402.5m vehicle is hunting growth-oriented agriculture opportunities to match the SPAC market’s early focus on mobility, electrification and other carbon-transition subsectors.

The growth of special purpose acquisition companies last year added more than $40bn to the pile of capital chasing buyout deals, according to the consulting firm's latest report.

Dwight Anderson says an improving commodity outlook and government attention on food supply chain risks are among factors helping create a material improvement in investor sentiment towards ag.