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The food-focused subsidiary of Saudi Arabia’s $300bn Public Investment Fund increased its 20% stake in Minerva Foods it purchased in 2016 to 33.8%.
ADQ is also among several potential investors into the Louis Dreyfus Company and acquired a 50% stake in multinational agribusiness Al Dahra Holding Company in May.
Chairman Dave Chen says the investment reflects Mexico’s continued importance to North American produce supply and the global scope of the controlled environment market.
The impact fund has a five-year investment period but OP chief investment officer Erkko Ryynänen expects it to be fully invested within three years, at which point a follow-on vehicle will be raised.
Cargill-affiliated Proterra has been an investor in Country Bird since 2014, helping the company enter new regional markets.
Tomato, canned tomato
Development Partners International made the investment from the third iteration of its Africa fund, which it is currently raising.
Decernis chief executive Kevin Kenny says some degree of scarcity and price pressure on difficult to grow and process food items is inevitable in the wake of covid-19.
Khadim Abdulla Al Darei, Al Dahra’s co-founder and vice-chairman, says the investment will allow the multinational agribusiness to expand its 'reach and footprint.'
Partner Chris Mitchell says the response to challenges presented by covid-19 could help determine the pace and focus of regional ag sectors’ further development.
Black solider fly
Insectta has developed technology that can extract chitosan from insect waste, an antimicrobial ingredient used in the pharmaceutical and cosmetic industries.
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