South African agric-tech investment company AgVentures raises $5.4M fund

AgVentures, a South African agric-tech investment company, has raised an R100million fund ($5.4m) to invest in companies building tech solutions for food production in Africa. They raised the fund from Acorn Agri & Food, a South African food group.

AgVentures aims to fund agric-tech companies in South Africa, Kenya and Israel (where they made their first investment in 2019). They are looking for companies that are “scalable and capital-light, with competent founders who possess deep industry experience.” Agric-supporting technologies on their radar include farm management software, data analytics and AI, robotics and drones, safety and traceability systems, and sustainable packaging.