– with over $22M firm commitments to date, new fund’s focus will continue to source/support catalyzing innovation in this vital sector amidst promising improvement in M&A climate, multiple recent successful exits
CHAMPAIGN, Ill., Oct. 15, 2024 /PRNewswire/ — With investments secured from the State of Illinois’s Growth & Innovation Fund as well as the State of Wisconsin’s Economic Development Corp., the SERRA AG & FOOD TECH FUND II has obtained in excess of $22M in investor commitments to date with an initial target raise of $100M. With their Midwestern roots, they’ve successfully invested in ag-tech deals since 2011 as Serra has a track record of exiting Ag & Food Tech companies to the largest Ag players including John Deere, Nutrien, and Bayer among others. With 13 years of Ag/Tech investing experience they are one of the most prolific investors in this sector, having been ranked third most active in 2023 by Pitchbook. Amidst a historically harsh global economic landscape at the time – as only 9% of 2021 vintage venture funds produced a cash return – Serra was one of those.
This new Fund is further enhanced by improving macro economics, including low inflation and falling interest rates – which are ideal conditions for spurring new M&A activity, which has already been rebounding significantly as evidenced by multiple exits for portfolio companies in Serra’s earlier funds.
Responding to the acceleration of today’s planetary pressures given humanity’s ongoing need for the basics of life: food, water, and air, Serra Ventures specifically focuses on sourcing and supporting early stage companies delivering breakthrough technologies in this key sector of AgTech through their well-honed lens of the changing consumer, changing farmer, and changing climate.
The firm presently manages $180M in early-stage company investments with the support of over 275 limited partner investors. With offices in Champaign, Chicago, Park City, and San Diego, Serra Ventures has provided consulting to over 500 technology start-ups, and funding to over 100 of them. Accredited investors who are interested in partnering with Serra Ag & Food Tech Fund II‘s timely and compelling “sustainable healthy planet” mission are invited to learn more: www.SerraVentures.com.
Producers/editors: www.serraventures.com/pressroom
Interviews: Seasoned entrepreneur and Serra Ventures’ founder & CEO Tim Hoerr is available for interviews
Contact: (Ms.) “Sam” Jernigan, publicist, Renaissance Consultations, 530.362.1339, sam@MarketingAndPR.com
View original content:https://www.prnewswire.com/news-releases/two-state-governments-partnering-with-serra-ventures-llc-for-second-ag–food-tech-fund-focusing-on-the-changing-consumer-changing-farmer–changing-climate-302275875.html
SOURCE Serra Ventures, LLC
