Key Takeaways:
- Kagome and SVG Ventures form a strategic partnership to launch the $50M SVG Ventures Sunrise Fund, aimed at driving innovation in the agricultural sector.
- The fund will focus on early-stage investments in startups developing technologies to address global agricultural challenges such as climate change and crop disease.
- The fund has a 10-year investment horizon, with investments ranging between $0.5-1.0 million per startup, along with follow-on funding.
- Kagome’s U.S. subsidiaries, including Ingomar Packing Company and United Genetics Seed Company, will support the fund’s initiatives.
Kagome and SVG Ventures Partner to Launch $50M Sunrise Agri-Tech Fund
Kagome Co., Ltd., through its U.S. subsidiary GARBiC USA LLC, and Silicon Valley-based venture capital firm SVG Ventures, LLC, have announced a strategic partnership to launch the SVG Ventures Sunrise Fund, a $50 million corporate venture capital (CVC) fund aimed at fostering innovation in the agricultural sector. The fund, which has a 10-year investment horizon, is designed to accelerate the development of sustainable solutions that address the challenges faced by the global agricultural industry.
Addressing Global Agricultural Challenges
Kagome, founded in 1899, has evolved its value chain from farm to table, contributing significantly to agriculture and society. However, with the increasing impacts of climate change, including heatwaves, droughts, and the spread of crop diseases, Kagome recognizes the need to further strengthen its value chain by supporting innovation in the agricultural sector.
“We are thrilled to partner with Kagome to establish the Sunrise Agri Fund, which will serve as a catalyst for innovation in the agricultural sector,” said John Hartnett, Founder & CEO of SVG Ventures. “By leveraging Kagome’s rich history and expertise, alongside our experience in accelerating and investing in agri-food technologies, we are confident that this collaboration will empower the next generation of startups to create sustainable solutions that will transform the agricultural value chain.”
Focus on Early-Stage Innovation
The Sunrise Fund will focus on early-stage startups working on innovative agricultural technologies, with initial investments ranging from $0.5 to $1.0 million, and reserves for follow-on funding. The primary goal of the fund is to address key challenges in global agriculture, such as developing heat- and drought-resistant crops and cultivation technologies capable of thriving in extreme environmental conditions.
Mr. Hiroyuki Ueda, head of Kagome’s Global Agri Research & Business Center, emphasized the importance of innovation in overcoming these challenges: “Our partnership with SVG Ventures and the creation of the Sunrise Agri Venture Fund is a testament to our commitment to driving sustainable solutions that will not only strengthen our company activities but also benefit the broader agricultural community and its stakeholders. By investing in and collaborating with forward-thinking startups, we are taking proactive steps to address the impacts of climate change and ensure the future resilience of food systems worldwide.”
SVG Ventures|THRIVE Recent News
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The full 2024 THRIVE Top 50 AgTech and FoodTech report can be downloaded here.
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Image provided by SVG Ventures|THRIVE
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