Pontifax AgTech Fund I raises $105M
Pontifax AgTech Management said Oct. 11 that its first fund closed on $105 million in commitment. Investors of Pontifax Global Food and Agriculture Technology include financial institutions, university endowments, investment firms, large-scale growers and family offices. Pontifax AgTech, of Santa Monica, California, invests in the food and agriculture sector. In September, the firm sold Blue River Technology to John Deere for $305 million.
Santa Monica, CA – October 11, 2017 – Pontifax AgTech Management (“Pontifax AgTech” or “the Firm”), a leading growth capital investor in the global food and agriculture sector, today announced the close of its first fund, the Pontifax Global Food and Agriculture Technology Fund (“the Fund”), with commitments totaling $105 million. The Fund attracted commitments from leading investors, comprised of financial institutions, university endowments, investment firms, large-scale growers and family offices.
Pontifax AgTech invests globally in revenue-generating businesses with proven technologies that improve the productivity, sustainability and efficiency of the agriculture supply chain. The Firm’s principals work with a proprietary network of leading growers, technology experts and strategic corporate partners to thoroughly evaluate and maximize the success of the Fund’s investments.
The announcement follows the Fund’s successful exit from Blue River Technology, a next-generation robotic crop management platform which was acquired by John Deere in an acquisition valued at $305 million in September 2017.
Ben Belldegrun, Co-Founder and Managing Partner of Pontifax AgTech, said: “We are very pleased to bring our fundraising to a successful close. The overwhelmingly positive response to the Fund by a wide range of leading investors reflects growing investor enthusiasm for the AgTech sector. Our recent exit from Blue River Technology underscores the value of growth stage investments in the space, and we are pleased that investors are recognizing the compelling trends and sustainability benefits from AgTech investing.”
Phil Erlanger, Co-Founder and Managing Partner of Pontifax AgTech, added: “Food demand is increasing dramatically, with global population trending to 10 billion by 2050 and increasing per-capita consumption. In contrast, the agriculture supply chain is confronted by declining resources and increasing sustainability pressures. Significant innovation is critical to address these market dynamics. We see numerous opportunities to invest in disruptive technologies which add value to the agricultural supply chain. We are excited to play an instrumental role in supporting the growth of disruptive AgTech businesses which improve one of the largest and most important industries in the world.”
To date, Pontifax AgTech has made seven investments in five industry-leading companies: Blue River Technology, AgBiome, Conservis, Caribou Biosciences and Anuria.
About Pontifax AgTech Pontifax AgTech is a leading growth capital investor in the global food and agriculture sector. Headquartered in Santa Monica, California, and founded in 2014, Pontifax AgTech makes growth capital investments in fast-growing businesses with proven technologies that improve agricultural productivity, nutrition, health, sustainability and supply chain efficiency. Pontifax AgTech works in partnership with its extensive network of growers, technology experts and strategic corporate partners. For more information please visit https://www.pontifaxagtech.com/