Fund Structure

The deal is the first initiated and supported by London-headquartered NewAg Partners, the boutique advisory founded by former Insight Investment executive Detlef Schoen.

A July filing from the agricultural investment manager referenced provisions of an agreement that prohibits the firm from raising a successor fund.

New Harvest, chaired by industry veteran Don Mackay, is aiming to hold a first close of A$150m before the end of 2022.

Tenacious Ventures will build on the A$35m close of its first fund, which surpassed its target and raised capital from the Clean Energy Finance Corporation, among others.

QIC plans to raise at least A$500 million for the Queensland Natural Capital Fund, its first commingled agriculture and natural capital fund.

Addison Taylor says new fund managers and foreign investors are driving an evolution of farmland markets in Arkansas, Louisiana, Mississippi and Tennessee.

Co-founder Adam Waglay says the firm’s ability to offer a menu of co-investment options has played a key role in helping Butterfly become a ‘partner of choice’ for leading LPs.

Jake Espenmiller says a recent three-year equity-focused stint with Oak River Farms confirmed the importance of local networks in ag lending.

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.

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.