Home Australia

Australia

Packhorse Pastoral Company, which is targeting A$1.5bn in total for its first fund, has made a strong start after just six weeks of fundraising.
Roc Partners’ Premium Food Fund was one of three buyers, alongside Primewest and another local buyer, for Harvard University’s Western Rosella portfolio.
The firm has had an action-packed 12 months since its entry into ag with MIRA’s acquisition of Vitalharvest, the launch of its own dedicated ag fund and a merger with Centuria Capital Group.
Returns of annual and permanent farmland remain divergent, with annual farmland seeing robust figures following favorable weather conditions and high farmgate prices.
Windmill, Outback Australia
Reserve Bank of Australia governor Philip Lowe argued at an Australian Farm Institute event last week that there is plenty of capital looking for a home if the ideas and business plans are sound.
Strawberries, raspberries and blueberries on wooden surface
The two firms had steadily outbid each other over the past several months, with a final offer price now one-third higher than the first bid submitted by Macquarie in November 2020.
Confidence among farmers is strong after a bumper 2020 winter crop, with hopes that a repeat this year will set the sector up for years to come.
Packhorse Pastoral Company’s A$1.5 billion fundraising goal is ambitious – especially as it wants to raise it all from Australian investors.
Packhorse Pastoral, farmland, Australia
Packhorse Pastoral Company is aiming to raise A$1.5bn for its first pooled fund – and it wants it all to come exclusively from Australians.
Carrot growing in soil
The firm, one of the first VC firms to focus on Australian agtech, exceeded its fundraising target of A$30m for its inaugural vehicle.
agri
agri

Copyright PEI Media

Not for publication, email or dissemination