startups

Brazilian AgFood startups to innovate with first-of-its-kind AgTech fund – NutraIngredients-Latam


Company and fund investor, BASF Venture Capital, injects $4 million into the Brazilian AgVentures II fund, as part of its first round of closing.

The AgVentures II fund is the only fund that exclusively focuses on agricultural technology, (AgTech). The fund is managed by São Paulo-based SP Ventures, an AgFood tech leader in Latin America. Chemical company BASF’s investment will center on its nutrition, care and agricultural solutions business.

Highlighting that BASF Venture Capital’s investment in SP Ventures’ AgVentures II fund is its first investment in LATAM, Markus Solibieda, Managing Director of BASF Venture Capital, explained: “Latin America is a strategic region for venture capital and for the chemical industry; especially the agricultural and food sector which offers many opportunities for entrepreneurs.”

“Cooperation between our businesses and startups has become an important driver of innovation for our customers and growth for BASF in South America,”​ enthused Manfredo Rübens, President of BASF South America.

Promoting AgFood innovations

Centering on Latin American agricultural and food (AgFood) startups, the AgVentures II fund is designed to create opportunities for between 20-25 new companies. The fund aims to encourage, enhance and emphasize the innovations that are taking place in the AgFood market by startups that are founded and headquartered in the LATAM region.

Marking the company’s first AgFood commitment in Brazil, BASF Venture Capital focuses on supporting chemical products and new materials, software and services, as well as innovative and digital business models in the chemistry field. BASF Venture Capital joins a selection of strategic and financial investors, international development finance institutions and local family offices, in developing the fund.



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