Israeli firm GreenSoil has said it has raised between €50-€70 million to invest into food and agriculture technology companies. The fund said in a press release that the capital would be divided equally between companies in Europe and Israel.
Gideon Soesman, managing partner and co-founder of GreenSoil, told Agri Investor earlier this year that he expected to hold a final close by May 2016.
He said that the fund would invest equally in Israel and the Netherlands, which is a new market the company is exploring, and that Fund III had received investment interest from the Dutch government and some provinces.
GreenSoil has opened an office in Amsterdam, telling Agri Investor that it is “a place where there are a lot of innovations … but there are no funds there.”
He compared this to the agtech landscape in the US, where funds like Finistere and Flagship Ventures have already set up shop.
Soesman added that fewers investors also means less competition in the field, saying: “We will be able to pick the best companies in a place like the Netherlands which is known for its enormous achievement in innovation in food and ag.”
In late 2011 and 2013, GreenSoil Agro & Food Funds I and II closed on $17 million and $15 million respectively. An average holding period of a GreenSoil portfolio company is 5 to 8 years and its agri and food funds mature after 9 to 12 years, according to Soesman.