The firm’s two flagship open-end vehicles returned 17.47% and 22.28% last year, buoyed by demand from permanent horticulture in Australia – despite wetter-than-average climatic conditions.
To launch its first unlisted diversified fund, Duxton Capital, which has more than A$900m of AUM in agriculture, will build on a seed investment from an Australian institution.
The Colorado-based agtech start-up also attracted investment from restaurant chain Chipotle Mexican Grill's new $50m venture fund Cultivate Next.
Chief executive Ryan Lefers says an $18.5m bridge round of convertible-note financing in April helped the KAUST spin-out prepare a Q4 launch for an equity round for its saltwater-based farming systems.
The indoor farming start-up intends to extend across the GCC and secured a joint venture with South Korean vertical farmer Farm8 in October ahead of a planned expansion into Asia.
The New York-headquartered firm has secured at least two commitments for a follow-up to the $1.45bn Fund V, to focus on an agribusiness sector it says has outpaced all others since 2006.
AC Fund3 will target low to mid-teens net IRR through a focus on fresh citrus in the US, Australia and Spain that builds upon the firm’s previous experience in permanent crops.
The French energy giant plans to develop carbon credits from reforestation, agroforestry and conservation as part of a national ‘Green Gabon’ initiative as it tries to offset its own emissions.
The firm, co-founded by partners including three former Queensland University of Technology start-up program managers, is seeking up to A$50 million for its first VC fund.
The firm will pursue a growth equity strategy in North America and has taken commitments from the Canada Life Assurance Company and BMO Capital Partners.