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National & World Ag News Headlines |
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Innova Closes Innovation Fund IV to Support AgTech Startups
USAgNet - 05/16/2017
Innova Memphis, an early-stage venture capital firm, has announced the close of its latest fund, Innova Ag Innovation Fund IV. As part of the USDA's Rural Business Investment Program, the fund has been certified and licensed to operate as a Rural Business
Investment Company (RBIC). The $31 million fund will focus on early-stage investments anchored in rural America, and will work with various national farm organizations and other partners to identify, enable and accelerate companies with high growth potential
in the rapidly expanding AgTech sector.
This will be the firm's fourth fund since its founding in 2007 by Memphis Bioworks, and will build on the firm's track record in early-stage venture capital, as well as further expand its ecosystem partnership model. A key partner will be AgLaunch, a venture
development organization, accelerator and farmer network organization, which focuses on a farm-centric commercialization model for agricultural innovation.
"We are very excited to start investing and look forward to meeting with founders and network partners to identify investment opportunities," says Innova Partner Jan Bouten. "The fund will make that often critical, initial investment to assist promising startups on
their path toward commercialization and scalable growth, all while creating opportunities and jobs in rural America."
The fund focus will be investments in novel, technology-based solutions to solve real-world problems faced by today's farmers. Located in the heart of the Delta region, Innova is perfectly situated to cover opportunities across the nation, while taking advantage
of the rich natural resources, expertise, and infrastructure around Memphis.
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