Ag Tech Ventures Capital Firms
Finistere Ventures Announces First Closing of Agtech Fund
Finistere Ventures, a California-based innovation capital firm and one of the pioneers in the rapidly growing agriculture technology (Agtech) sector.
Finistere Ventures Announces First Closing of New $150 Million Agtech Fund in Collaboration with Bayer CropScience and AVAC Ltd.
The Fund focuses on new technology solutions in food productivity, sustainability, and nutrition to address the ever-decreasing agricultural land resources, climate change, and changing population demographics. Finistere is collaborating with Bayer CropScience, AVAC Ltd., and other partners to identify and invest in world-class technologies across early-to-growth stage companies in the Agtech space.
“We are excited by the promising technologies and companies in the Agtech space that need both capital and the strategic, technical, and operating expertise that we bring as partners and investors,” said Finistere Ventures co-founder and Partner, Arama Kukutai.
Finistere, which began investing in Agtech in 2005, has seen a pattern of increasing investor interest including a more diverse set of entrepreneurs and significant opportunities in commercializing the pipeline of science and technology funded by public investment around the globe. “The timing for a new Fund coincides with the new wave of innovation needed to create the next Green Revolution in agriculture,” said Jerry Caulder, a leader in agricultural biotechnology and Chairman of Finistere Ventures. “By partnering with the expanding VC interest, we can build on the positive results we’ve had in this sector”.
By investing in future technologies, Bayer CropScience aims to advance global food security.
“The world faces difficult challenges to its food security with 9 plus billion people to feed by 2050,” said Dr. Adrian Percy, Head of Global Research and Development, Bayer CropScience AG. “The investment with Finistere Ventures complements our vision for collaborating with others in delivering new innovation to growers to enhance yields necessary to provide access to safe and affordable food for this growing population and shifting tastes of consumers.”
Finistere is also expected to announce collaboration agreements this quarter in Israel, and is developing an Agtech pipeline strategy with support from research organizations in Australia and New Zealand.
Finistere will be operating from their established San Diego, Calif. office and a new office in Palo Alto, CA headed by its new partner Dr. Spencer Maughan, formerly a Vice President at Venrock. According to Maughan, “Silicon Valley has become a major hub for new Agtech companies, and a more diverse group of investors. With California as the leading agricultural state by value and the biggest concentration of venture investing in the world, the prospects for investment in Agtech are ideal.”