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The fund was launched in 2010 and backed by superannuation funds including AustralianSuper, the Australian Catholic Superannuation and Retirement Fund and Auscoal Super.

Singapore’s Oversea-Chinese Banking Corp and its asset management unit Lion Global Investors have closed a S$550m private equity fund to invest in agriculture and commodity companies across Asia.

Farm Dog, an agtech company producing sensors and analytical software for farmers in Europe and the US, bagged $750,000 in seed funding with Lool Ventures leading the round.

The financing was led by Middleland Capital, an agriculture-focused venture capital firm, with co-investors Mercury Fund, Prelude Ventures, Prolog Ventures, Alexandria Venture Investments, Cultivation Capital, and TechAccel.

Stafford Capital Partners will invest in dairy, beef and row crops, and is splitting its commitments between primaries, secondaries and co-investments.

The REIT is the latest US institution to enter the agri lending sector, joining groups like the Ohio-based Heartland Bank and Prudential Agricultural Investment.

Farmland incomes in the US are set to fall to their lowest level in nearly a decade, according to the US Department of Agriculture, reflecting bumper harvests and higher dairy and hog production.

Canadian private real estate firm Osmington has invested in venture capital-backed Farmers Edge, which develops precision agriculture and data management tools for global agribusinesses.

China-based drone start-up EHANG has raised $42m in a Series B funding round led by GP Capital.

The new fund, solely focused on the New Zealand dairy market, is targeting NZ$350m, with a final close to take place in the first quarter of 2016.