Anterra Capital has held the second close of its food and agriculture technology fund, raising the fund’s total capital to USD125 million, the largest venture capital fund of its kind in Europe.
Anterra also confirmed its international expansion from its headquarters in Amsterdam (Netherlands), with the opening of an office in Boston. This move makes Anterra the first independent food and agriculture fund with an international presence in the two most important regions for AgTech innovation – Europe and North America.
“The global food system needs innovative solutions, but building companies in the complex and conservative food sector can be challenging,” says Adam Anders, Anterra Managing Partner, speaking at the opening day of the World Agri-Tech Summit. “We founded Anterra because we know entrepreneurs in this sector lack an investment partner with the specialist expertise, international network access and patient capital required to succeed over the long term. The expansion of the food and agriculture fund and the launch of Anterra’s U.S. office are the natural next steps in building our capability to help the best AgTech companies in the world become global leaders.”
Anterra’s existing investors are Rabobank, a leading global food and agribusiness bank, and Eight Roads, the proprietary investment arm of Fidelity International Limited.
Cyrus Jilla, President of Eight Roads, says: “Eight Roads was Anterra’s lead investor in 2013 and our increased investment underscores the strong investment opportunity presented by the global food and agricultural technology space. This is a sector which has traditionally been viewed as a laggard in technical innovation and as a result has been largely overlooked by venture capital. We already see significant areas of overlap between Anterra’s investment focus and our existing global venture capital activities in the life sciences and technology sectors.”
“Fostering innovation in food and agriculture is a huge focus for Rabobank, from supporting technology entrepreneurs who are playing an increasing role in driving change in the sector to bringing innovative ideas to our client base – the top food and ag companies in North America and around the world,” says Rajiv Singh, Chief Executive Officer at Rabobank North America Wholesale. “The food and ag system is going through a period of dramatic transformation and we are excited to continue our work with the Anterra team to help identify and support great companies that can substantially improve the food supply chain for future generations.”
