SA’s AgVentures Secures R100m from SA Agrifood Business

• AgVentures has secured an anchor commitment of R100 million from Acorn Agri & Food, an SA agrifood business.
• AgVentures invests in early-stage agrifood technologies in South Africa, Israel and Kenya and helps to carry out these disruptive technologies across Africa.
• AgVentures’ first investment, concluded in 2019, is in an Israeli company called FruitSpec which developed proprietary technology to provide farmers with accurate estimates of the early season fruit yield.

AgVentures has secured an anchor commitment of R100 million from Acorn Agri & Food, an SA agrifood business.

AgVentures said in a statement last week that the new capital will help the investment company to pursue its vision of unleashing Africa’s agrifood potential by investing in, and nurturing, innovative and disruptive technologies with transfood potential.

Established in 2018 by Gerhard Visagie and Michael Prinsloo, AgVentures invests in early stage agrifood technologies in South Africa, Israel and Kenya and helps to carry out these disruptive technologies across Africa.

AgVentures’ product portfolio includes corn, soybean, sorghum, sunflower and alfalfa, provides access to the industry’s most diverse inbred combinations and elite germplasm pools to deliver maximum yields on every acre.

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AgVentures disclosed in the statement that it is looking for businesses to invest in “scalable and capital light, with competent founders who possess deep industry experience”.

“These technologies may include digital platforms, farm management software, data analytics and AI, biotechnology, robotics and drones, smart irrigation, innovative animal production and health, food waste reduction, innovative food technology, safety and traceability systems, and sustainable packaging,” it said in the statement.

The company’s first investment, concluded in 2019, is in an Israeli company called FruitSpec which developed proprietary technology to provide farmers with accurate estimates of the early season fruit yield.

AgVentures has purchased FruitSpec’s exclusive distribution rights in Africa, and is currently selling it to fruit farmers in South Africa.