Key Takeaways
- Generation Food Rural Partners (GFRP) Fund, managed by Big Idea Ventures (BIV), announces investment in the Oklahoma Farm Bureau’s (OKFB) accelerator program to support Oklahoma-based start-ups.
- Funding is supported by new capital commitments from Oklahoma AgCredit, BancFirst, and the Oklahoma Center for the Advancement of Science & Technology (OCAST), with matching funds provided by OCAST.
- CoBank, a key Farm Credit investor, increased its commitment to the fund.
- The partnership focuses on creating living wage jobs and fostering agricultural innovation in rural Oklahoma.
- Oklahoma Farm Bureau President Rodd Moesel and OCAST Executive Director Jennifer McGrail express optimism for the economic and agricultural impact of the initiative.
Supporting Rural Innovation in Oklahoma
The Generation Food Rural Partners (GFRP) Fund, managed by Big Idea Ventures (BIV), has announced its ninth investment, which will support the Oklahoma Farm Bureau’s (OKFB) accelerator program. This program targets Oklahoma-based start-ups and rural businesses, providing critical capital to foster agricultural innovation and job creation.
The investment is made possible through new commitments from Oklahoma AgCredit, BancFirst, and OCAST, with OCAST offering matching funds to amplify the impact of the partnership. CoBank, one of the fund’s anchor investors, also increased its financial support.
Leadership Perspectives
Tom Mastrobuoni, Chief Investment Officer for Big Idea Ventures, highlighted the importance of the investment: “We are honored that Rodd Moesel and the team at the Oklahoma Farm Bureau chose GFRP to facilitate this critical investment partnership. Accessing venture capital investment remains a struggle for start-ups not located on the coasts of the US. Our focus on living wage job creation in rural communities is strongly aligned with the mission of the OKFB program.”
Rodd Moesel, President of Oklahoma Farm Bureau, emphasized the local impact: “Oklahoma Farm Bureau is elated to be a part of the partnership with Big Idea Ventures and Generation Food Rural Partners Fund. This collaboration will provide capital infusions through an Oklahoma-centric, Oklahoma-guided funding opportunity into the Oklahoma Grassroots Rural & Ag Business Accelerators’ startup companies and other rural businesses we work with across Oklahoma who are creating rural jobs and shaping agricultural innovation. We’re grateful to Tom Mastrobouni and the team at Big Idea Ventures for stepping into this important space with us. We hope this is an important first step to encourage much more venture capital and other investments into the amazing innovation we see across rural Oklahoma.”
Jennifer McGrail, Executive Director of OCAST, underscored the broader economic benefits: “OCAST is proud to support this partnership with Generation Food Rural Partners and the Oklahoma Farm Bureau. By helping local start-ups get the funding they need, we’re building a stronger future for Oklahoma’s rural communities. It’s all about investing in our local talent and making sure innovative ideas have the backing to succeed here in Oklahoma.”
Bill Davis, President and CEO of Oklahoma AgCredit, added: “We believe the Fund’s mission and purpose align well with the mission of the Farm Credit System and are pleased to help support the Fund’s focus on Oklahoma companies.”
