The vehicle received a £50m commitment from the South Yorkshire Pensions Authority to hit the fundraising milestone.
The Queensland-based fund will seek to deploy more capital in its home state, building on existing investments including the QLD Regional Livestock Exchange.
The firm has made early-stage investments in agricultural supply chain start-ups across Europe.
Savills natcap head Alex Godfrey has been recruited to lead the strategy, which will invest in UK assets with afforestation and peatland restoration potential.
The firm has followed up its inaugural $423m fund with a successor that will continue its food and consumer strategy.
The new fund, backed by European Investment Fund, Ikea Foundation and Convex, among others, is one of four ocean-focused funds that have raised a combined $647m.
Roc Food Fund II will follow a similar strategy to the first fund, with an increased target and greater emphasis on an own-and-operate model.
The early-stage venture capital strategy was launched in December 2021 and has amassed a portfolio of more than 20 companies.
The investment was made into the firm’s tenth iteration of its secondaries timberland fund, which has a $1bn target and had raised $635m by January 2024.
Managing partner Katrin Burt says the round is designed to help Colorado-headquartered Meati capitalize on a taste and nutrition advantage that could make it a category leader.