Fundraiser

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.

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 Company is aiming to raise A$1.5bn for its first pooled fund – and it wants it all to come exclusively from Australians.

The firm, one of the first VC firms to focus on Australian agtech, exceeded its fundraising target of A$30m for its inaugural vehicle.

The feed mill is the fund’s fourth asset and the first since the purchase of three foundation assets, all of which have been acquired via sale-and-leaseback arrangements.

The vehicle aims to raise A$500m in its first 12 months, providing loans of A$10m-$150m to counterparties across a variety of commodities.

Pontifax Global Food and Agriculture Technology Fund II holds final close.