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VC INVESTMENT IN AGRIFOOD FELL 44% IN 2022, INDUSTRY EXPERTS EXPECT IT TO FALL FURTHER
Mar. 27, 2023
by Jennifer Marston, AgFunder News
At the recent World Agri-Tech Innovation Summit in San Francisco, Cascadia Capital managing director Scott Porter asked a panel of VCs if they thought agrifoodtech investment would improve in the next year, stay the same or get worse.
Unsurprisingly, the majority of panelists (and audience members via a show of hands) said it would get worse.
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| Photo courtesy of World Agri-Tech |
"People that can avoid the market today are avoiding it," said Phil Erlanger, founder and managing director at Aliment Capital, in reference to who is investing or trying to raise money in agrifoodtech right now.
The last year has been challenging and in some cases downright terrible for agrifoodtech investment. As AgFunder's 2023 Global Agrifoodtech Investment report, released last week notes, agrifoodtech investment saw a 44% year-over-year (YoY) drop in funding between 2021 and 2022.
To view that report click here.
VCs predictions at World Agri-Tech weren't completely doom and gloom, though.
"The broader macro environment is not going to get any better anytime soon, but I do think it's a big opportunity as well," said Katrin Burt, managing partner at Grosvenor Food & Agtech. "For the companies that have strong fundamentals, it's a real opportunity for them to make acquisitions. For investors, it's a real opportunity to actually appropriately price the best [startups] in the network."
To read the entire report click here.
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