Following a pilot program, the AMERRA Capital Management affiliate will target impact investors for a vehicle it plans to raise in 2019.
The investment by an unnamed Canadian pension brings Fund IV’s total haul to C$130 million.
Capagro Innovation is majority-backed by institutional investors and already a third deployed.
The Dutch lender has invited other financial institutions to contribute to the facility, which is likely to become operational next year.
The vehicle, which has a $325m hard-cap, is aiming for mid-teen net IRRs.
The growth capital firm, which had an initial target of $100m, will be offering co-investment opportunities to LPs that also include a large insurer and a fund of funds.
The move bolsters the Canadian metals specialist's drive to give LPs access to investments with 'low correlation to the broader market.'
The vehicle will seek low-teen returns through investments in farmland and processing assets devoted to sustainable production of tree nuts, citrus and blueberries.
The $74bn pension has entrusted AgIs Capital with $150m earmarked for US farmland, its fifth commitment to agriculture and timberland.
The InsuResilience Investment Fund, made up of sub-pools covering private equity and private debt, has backed a Pakistani firm offering agriculture insurance.