LatamList – SP Ventures, recently announced the closing of its latest early-stage fund, AgVentures Fund II. Syngenta Ventures and BASF Venture Capital have joined the fund, along with the IDB Lab (the innovation lab of the Inter-American Development Bank ) and Capria Ventures, a global investment firm, as anchor investors.
The new fund aims to promote innovation in the agriculture and food technology sector. The fund will provide at least $50M and a cap of $75M for Seed and Series A startups in the region.
“LAC’s food systems need new solutions for increasing food production while adopting a more inclusive and sustainable path,” said Tomás Lopes Teixeira, CIO of IDB Lab. “Innovative technology from agfood and agtech startups can play a central role by providing farm-level solutions to help smallholders and rural workers improve productivity, livelihoods, and climate resilience.”
SP Ventures previously co-founded the region’s first agtech accelerator, Pulse Hub. With the new investment fund, the company aims to continue supporting SME farms across the region.
Read more on IDB Lab.