Fundraising

Primewest will use part of the A$60m raised in an institutional placement to make a cornerstone investment in its first agriculture fund.

Agtech investment data from Pitchbook shows agrifinance and e-commerce firms could double the $587m raised in 2019 to eclipse the $1bn mark for the first time.

The Prime Alternative Finance fund has a pipeline of projects worth roughly £500m and the firm is close to launching a Sharia-compliant version follow-on.

Dave Chen says the pause on fundraising for the firm’s $300m follow-up to its $184m debut wastewater vehicle comes as investors display growing interest in renewable natural gas.

The 13-year-old vehicle is one of the oldest in the market and has delivered ‘just under 10% annualized returns net of fees,’ says CIO Brandon Zick.

iUNU uses cameras and sensors to monitor plants grown in an indoor setting and is the second greenhouse-related investment by Ceres’ second fund.

Former PSP, CVC and EQT exec Przemek Obloj says the deal and investor pipelines surrounding alternative proteins are the most global he has ever seen.

The firm’s early stage and agtech investments vehicle’s commitment to The Kingfish Company gives it exposure to a business embarking on a US expansion project in 2021.

VC investment into agtech has grown 75% since 2014 and looks keen to keep growing as the sector offers opportunities across types of investors.

Co-founder Eric Archambeau says high-level discussions around the EU’s Farm to Fork strategy framed a fundraising effort that accelerated after covid-19’s initial spread.