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Co-founder Adam Waglay says the Los Angeles-headquartered firm’s entry into wine comes after a decade of study that identified NYSE-listed Duckhorn and its premium market segment as key targets.
The vehicle has a long-term goal to remove one gigaton of carbon dioxide-equivalents from the atmosphere by 2050.
The AFF20 reveals firms had to have raised at least $845m between 2019-23 to be among the top 20 capital raisers in food, forestry and natural capital.
The SVG Ventures Sunrise Fund will make early-stage investments with a typical check size of $500,000-$1 million.
Managing director Scott DeVos says Lil Bucks will be attractive to larger consumer packaged goods companies.
Among several appointments, Tyler Mayoras will step up to become managing director, food and beverage sector, with responsibilities including sourcing new investments.
The food investment specialist is seeking up to $750m for its follow-on vehicle.
The firm has invested in more than 80 companies since it was founded in 2020.
The Vail, Colorado PE firm’s recent acquisition of organic beef brand Verde Farms is an example of its investment strategy focusing on companies that improve health.
Mekong Enterprise Fund IV is nearing full deployment across a diverse range of investments, including in the regenerative agriculture space through biochar fertilizer company Husk.