Anterra Capital’s second Global Food and Agriculture Technology Fund closes at $260 million, oversubscribed on robust institutional demand
AMSTERDAM & BOSTON — A shattering pandemic and, more recently, the war in Ukraine have convinced investors more than ever that the world needs to radically change the way it produces, distributes and consumes food, said Adam Anders, managing partner of the international food and agriculture specialist venture capital firm Anterra Capital (“Anterra”).
Anders: “The pandemic highlighted the fragility and adverse health impacts of our current food system: rising prices, empty shelves in stores; the fact that an unhealthy diet is an important risk factor for getting Covid; that the way we treat farm animals could trigger the next pandemic. Following our final shutdown, the devastating impact of the war in Ukraine on global food supplies has further raised investor awareness. This, plus our focus on deploying proven biotech and digital solutions to shake up the lagging food and agriculture sector, largely explains the higher-than-expected interest in our second fund.”
Anterra is proud to announce the closing of its second fund, with commitments of more than $260 million. All investors from Anterra’s first fund returned to Fund II, led by Rabo Investments and Eight Roads Ventures. This fund also welcomes an international influx of new investors, ranging from pension funds and sovereign wealth funds to family offices and tech entrepreneurs from other sectors.
Anders: ”A new crop of regular investors is ready to participate. Many already believed that the progress of the Green Revolution came at a high price. It gave us cheap fertilizers and powerful pesticides for growing plants; and growth hormones and antibiotics in animal production. But his obsession with yield is also destroying ecosystems and our own health. The pandemic gave the final push. Investors are realizing that they can help build a resilient and regenerative food system while delivering outstanding returns.”
Another unexpected result of the pandemic is that it has changed the outlook for using biotech in food and agriculture. Traditionally, this has been met with great public resistance. But since the rollout of mRNA vaccines, billions of people have witnessed the positive power of biotech firsthand.
Anders: “The increasing public acceptance of biotech solutions and gene editing thanks to mRNA vaccines is an important shift. Biotech advances will also play a vital role in making food and agriculture more resilient and less carbon-intensive; of combating and preventing infectious diseases that spread from animals to humans; to develop more sustainable crop health solutions.”
Anterra believes that biotech and digital solutions are the two key technologies that will transform the food and agriculture sector. Through this technology lens, Anterra seeks entrepreneurs across the entire value chain, ranging from ag fintech, crop science and animal health to human nutrition and consumer technology. Where it feels that opportunities are being missed, Anterra is also incubating companies itself: since 2018, Anterra has built five successful start-ups from scratch. At the same time, technology does not have to be state-of-the-art to profile itself in the sector.
Anders: “Technically, food and agriculture are 20 years behind sectors like human health and banking, so you don’t necessarily need the latest cutting edge technology to transform it. Our incubated companies focus on deploying biotech and digital solutions that are established elsewhere but are new to food and agriculture. I can safely say that we are unique in that approach. It’s an advantage to operate in a slow-moving industry: you can innovate in a somewhat risk-free way.”
By executing this strategy, Anterra has built a diverse portfolio of innovators ranging from entrepreneurs developing next-generation targeted pesticides with low environmental impact, such as Enko and Vestaron; start-ups that improve human and animal health, such as Invetx, Animol and Caribou Biosciences (co-founded by Nobel laureate Jennifer Doudna); companies that provide farmers with field data, access to financing, transparent prices and direct distribution channels, such as ProducePay and Agriconomie; and technology-driven consumer companies that are changing the way we choose, buy and think about food, such as LaFourche and Lollipop.
Anders: “Our strategy and years of experience are bearing fruit. We look forward to supporting the next generation of great entrepreneurs and building a better food system.”
With offices in Amsterdam and Boston, Anterra Capital is an international specialty venture capital investor focused on financing the growth of technology-driven companies with incredible potential in the areas of food, agriculture and animal health. Backed by multinational institutional investors, family offices and like-minded entrepreneurs, Anterra patiently provides strategic capital to innovative companies that sustainably transform our global food system. More information: www.anterracapital.com
Check out the source version at businesswire.com: https://www.businesswire.com/news/home/202020517006310/en/
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