This will be the firm’s fourth fund since its founding in 2007 by Memphis Bioworks, and will build on the firm’s track record in early-stage venture capital, as well as further expand its ecosystem partnership model. A key partner will be AgLaunch, a venture development organization, accelerator and farmer network organization, which focuses on a farm-centric commercialization model for agricultural innovation.
“We are very excited to start investing and look forward to meeting with founders and network partners to identify investment opportunities,” says Innova partner Jan Bouten. “The fund will make that often critical, initial investment to assist promising startups on their path toward commercialization and scalable growth, all while creating opportunities and jobs in rural America.”
The fund focus will be investments in novel, technology-based solutions to solve real-world problems faced by today’s farmers. Located in the heart of the Delta region, Innova is perfectly situated to cover opportunities across the nation, while taking advantage of the rich natural resources, expertise, and infrastructure around Memphis. Some of the target investment areas are:
- Farming technology, equipment and enabling innovation, including robotics
- New technologies pertaining to crop production, harvest, storage, supply chain/logistics and processing/productivity tools and software
- Areas of precision agriculture such as crop, water and chemicals management
- Innovations addressing food security, safety and nutrition challenges
- Novel animal health and welfare systems and practices
“Working directly with farmers, our Venture Development Organization has built a unique and strong support network that greatly enhances the success rate of technology commercialization in agriculture,” explained, Pete Nelson, Director of AgLaunch. “Innova’s early stage investment expertise and capital will act as a great catalyst for all we’re doing and we look forward to further enhancing our already strong partnership with the Innova team.”
For more information:
www.innovamemphis.com
www.farmcreditnetwork.com
www.memphisbioworks.org