The second fund takes Pontifax AgTech’s total assets under management (AUM) to $465m
Pontifax AgTech Management has secured commitments totaling $302m for its second food and agricultural technology fund.
The Pontifax Global Food and Agriculture Technology Fund II (Fund II), which was oversubscribed, takes the company’s total assets under management (AUM) to $465m.
For the Fund II, the company received commitments from institutional investors including national and international financial institutions, state pension funds and donation from university.
It also includes foundations, investment companies as well as large-scale producers and family offices.
Pontifax AgTech has closed its initial funds at $105m in October 2017, which has monetized two investments with the divestment of Blue River Technology to John Deere and though the initial public offering (IPO) of Precision Biosciences.
Blue River Technology is involved in developing advanced robotics and automation technology for crop cultivation.
Fund II made initial investment in Provivi
The company said that the Fund II has made an initial investment in Provivi,
With its biological crop protection technology, Provivi eanbles the production of low-cost pheromones which sustainably disrupt the mating patterns of invasive crop insects.
Pontifax AgTech invests globally in commercially established businesses with proven technologies which help to improve the productivity, sustainability and efficiency of the food and agriculture supply chain.
Furthermore, it has invested in eleven industry-leading companies.
Pontifax AgTech co-founder and managing partner Phil Erlanger said: “Food demand is expected to double in the next three decades, while production is constrained by diminishing supplies of land, water and labor, coupled with increasing regulation.
“The current pandemic has only highlighted issues of food security and makes improving agricultural productivity, nutrition, and supply chain efficiency of paramount importance for global health and sustainability.
“We are focused on pursuing disruptive technologies that result in healthier food while providing attractive returns for our investors.”