To support breakthrough NZ food and fibre businesses to commercialise and scale, AGMARDT has recently made two direct investments with Private Capital Group and Cultivate Ventures.
“These investments are about realising the strategic intent behind our newly developed New Zealand Food and Fibre Direct Investment Policy” says General Manager Lee-Ann Marsh.
“Our grant applicants and sector partners tell us that the most promising food and fibre innovations need longer-term support. Whether that’s investment in research & development, or in the stainless steel and brand-building needed to take a game-changing product to local and international markets, scale takes time.”
“Our new direct investment policy, and these two investments, signal an evolution of AGMARDT’s impact strategy – to better support food and fibre businesses in this growth stage. Our traditional focus on early-stage innovation grants will now be complemented by direct investment that enable breakthrough innovations to commercialise, while growing the Trust’s investment returns”, says Marsh.
Cultivate Ventures’ first three investments (Ruminant BioTech, Miruku and Leaft Foods) demonstrate this dual focus in action. All received early-stage innovation grants from AGMARDT, a good example of “making impact beyond the grant-stage” says Marsh.
Established in 2023, Cultivate Ventures is a food and fibre industry-led and backed growth capital fund investing in companies with the potential to transform the sector. Specific focus areas for investment include next generation farms, robotics and automation, novel cultivars, AI and predictive analytics, logistics and storage, energy solutions, fertilisers, soil management and irrigation technology.
AGMARDT has also recently invested with Private Capital Group – a New Zealand based fund that builds customised asset portfolios for investors.