GrainCorp has launched a corporate venture capital fund to invest $30 million into start-ups that help build a sustainable future for the Australian agriculture industry.
Launched today, GrainCorp Ventures will invest in innovative start-ups across AgTech, animal nutrition and food innovation.
GrainCorp’s Chief Innovation and Growth Officer Jesse Scott said that GrainCorp is uniquely positioned to nurture start-ups that drive innovation across the industry.
“Activity and investment in agri-related venture capital has grown significantly across Australia and the Asia Pacific as a result of rising grower sophistication, evolving industry structures and emerging technologies,” Mr Scott said.
“GrainCorp’s diverse agribusiness and processing businesses and crucial access to domestic and global consumer markets make us an ideal partner to add value to these start-ups.
“Our focus on AgTech, animal nutrition and food innovation is about ensuring long-term sustainable growth for Australian agriculture.”
Mr Scott said GrainCorp has already been working with growers, customers and industry groups to support burgeoning opportunities in the sector.
“Our focus is to ensure that we invest in innovative start-ups that show potential in securing a sustainable future for our industry while supporting those at its core – growers and primary producers – to have the tools they need for growth in the digital age.”Jesse Scott
“We’re excited by the progress we have already made through investments in companies like Hone and FutureFeed, our recent partnering with CSIRO and v2food, and the ongoing development of our digital marketplace CropConnect.
“Through GrainCorp Ventures, we are looking forward to finding and supporting start-ups positively affecting the agricultural supply chain, with Australian growers at the centre of that progress.”
GrainCorp has partnered with Artesian Venture Partners to establish the fund, which will invest minority stakes in early-stage opportunities across AgTech, animal nutrition and food innovation.