Chief executive Bettina von Hagen says the 676,000 carbon credit offtake agreement was key to pulling together investors and winning the auction for a 68,000-acre forestry asset.
Paper manufacturer Oji will invest nearly $300m into the Future Forest Innovations Fund, mainly targeting investments in Southeast Asia, Latin America and Africa.
The firm is currently in market raising capital for its natural capital strategy, which will invest in assets including forestry and agriculture.
The vehicle has a preference for permanent crops and has received anchor investments from the two firms totaling €250m.
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.