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FAI has already deployed 60% of capital raised at first close as it progresses towards its €50m fundraising target.
IDeA Agro has raised around 80% of its €100m target from a clutch of institutional investors. MD Gianandrea Perco tells Agri Investor why he thinks a successor fund could be much bigger.
The French firm is the largest of about 10 LPs invested in the €50m vehicle, which will be run by the team that launched an agribusiness fund for Crédit Agricole in 2009.
The Unigrains affiliate is backing the transaction via both its equity and mezzanine funds, and intends to expand further in Western Europe.
The firm is targeting €200m to acquire majority and minority stakes in expanding Italian food businesses.
The project will focus on cisgenic engineering, which crosses genes between closely related organisms and could provide solutions to diseases ravaging southern Italy’s olive trees.
The acquisition is the second investment by the firm's $893 million Fund IV.
A recent survey in Italy on food labelling has highlighted that origin, especially Italian origin, is crucial to the country’s consumers. They are prepared to pay a premium for this information, too. Ilario Giangrossi and Chiara Bicci of Norton Rose Fulbright’s Milan office discuss the opportunities that arise from this end-customer focus.
Italian venture capital firm Programma 101 led the investment round of agtech start up Cortilia.
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