There’s no doubt start-ups have struggled to find backers following the broader pull back from venture capital, but the strategy has held up well among pooled agri-food and forestry funds.
The secondaries timberland fund has closed above its $1bn target and was launched at the start of 2023.
Chief investment officer and former Tyson Ventures executive Tom Mastrobuoni says corporates have backed away from fund commitments but remain interested in startups addressing long-term challenges.
The vehicle has made its first investment with a majority stake acquisition in biological past control company Bioline AgroSciences.
Global Frontier Capital was launched by a trio of co-founders from reforestation business Global Decarbonisation Solutions.
Warakirri Asset Management is aiming for risk-adjusted returns of more than 10% for its new fund, which will target dairy assets across Australia and New Zealand.
Chief investment officer Bob Jacksha says familiarity with the North Carolina-headquartered firm played a role in the commitment to Tiverton Ag Legacy Holdings II.
The French firm has a fundraising target of €350m for the Sustainable Land Fund II.
Vermont Pension Investment Commission analyst Andy Cook says growth in the pension’s private equity portfolio since 2019 has contributed to the requirement for more row crop exposure.
Mirova Sustainable Land Fund II has a €350m target and has 'secured commitments approaching €100m'.