Catch up on recent fundings in AgTech with the following list of News in Brief.
Biotech Companies Boost their Bucks
The MLS Capital Fund II has announced its first two investments — both in biotech. Co-managed by Spruce Capital Partners and Xeraya Capital, the fund closed a Series A round with California-based bio-based pest control developer Provivi, Inc, and a Series C round with Massachusetts-based microbial chemical producer GreenLight Biosciences. The amount of each investment is currently undisclosed.
Colorado Cannabis Continues to Grow
High-efficiency, computer-controlled cannabis greenhouse developer GrowCo, Inc, a wholly-owned subsidiary of Two Rivers, recently announced the close of a $4 million private funding deal. Participants in the funding were undisclosed.
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Commodities Storage Co. Scores Funding
Canadian investment firm Fairfax announced the close of a deal with National Collateral, an India agricultural logistics and storage company. Fairfax acquired a 74 percent stake in National Collateral for $125m, according to sources.
Tackling Climate Change in South America
In partnership with the Global Environment Facility, The Inter-American Development Bank has initiated a $5m Climate-Smart Agriculture Fund for Latin America and the Caribbean (CSAF) to incentivize private sector companies in the region to invest in projects that increase farmers’ incomes while addressing climate change. The fund will offer risk-tolerant capital with long tenors to catalyze private investment by cushioning early losses and providing a concessional tranche of resources that can transform projects into sustainable business investments.
Ecuador’s Shrimp Industry Beefs Up with Cargill
Multinational agriculture titan Cargill has partnered with Naturisa, Ecuador’s second largest shrimp producer, to construct a $30m shrimp feed facility in Guayaquil, Ecuador. A focus for the partnership will be research and development in aquaculture as it produces shrimp feed for animal producers under the Purina brand throughout Latin America.