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Sep. 30, 2024 Source: SVG Ventures news release
Kagome, a company with a legacy dating back to 1899, has consistently evolved its value chain from farm to table, creating value through agriculture and delivering it to society. However, recent challenges, including rapid climate change, frequent heat waves, droughts, and the spread of crop diseases, have significantly impacted this value chain. To ensure sustainable growth, Kagome recognizes the need to address these agricultural challenges head-on and further strengthen its value chain to be both competitive and sustainable. "We are thrilled to partner with Kagome to establish the Sunrise Agri Fund, which will serve as a catalyst for innovation in the agricultural sector," said John Hartnett, Founder & CEO SVG Ventures. "By leveraging Kagome's rich history and expertise, alongside our experience in accelerating and investing in agri-food technologies, we are confident that this collaboration will empower the next generation of startups to create sustainable solutions that will transform the agricultural value chain. Together, we are not just investing in technology but in the future of food and farming worldwide." "At Kagome, it must be said that our agri-food industry has faced increasingly difficult circumstances in recent years. There appears to be an imbalance between the agri-environment and technology. History has shown that innovation often arises during such periods of imbalance. We believe that innovation is key to overcoming the significant challenges facing global agriculture today. Our partnership with SVG Ventures and the creation of the Sunrise Agri Venture Fund is a testament to our commitment to driving sustainable solutions that will not only strengthen our company activities but also benefit the broader agricultural community and its stakeholders. By investing in and collaborating with forward-thinking startups, we are taking proactive steps to address the impacts of climate change and ensure the future resilience of food systems worldwide" said Mr Hiroyuki Ueda, Kagome Global Agri Research & Business Center. The newly established Sunrise Agri Fund is a strategic initiative designed to support and collaborate with cutting-edge startups that are pioneering innovative agricultural technologies worldwide. The fund will focus on early stage opportunities, with typical investments ranging between $0.5-1.0 million initially, with reserves for follow-on investment. By investing in these startups, Kagome and SVG Ventures aim to tackle the pressing issues facing global agriculture, including the development of drought- and heat-resistant crop varieties and cultivation technologies that can thrive in extreme conditions. Kagome's existing U.S. operations, including Ingomar Packing Company, LLC and United Genetics Seed Company, will play a pivotal role in this initiative. The fund will leverage these assets to validate and implement breakthrough agricultural solutions, ultimately contributing to a stronger, more resilient agricultural value chain. Tweet |
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