Adisseo and Mosaic are among the investors that helped venture firm SP Ventures’ vehicle reach a $25.2m close, representing half of its target.
Brazil-headquartered venture capital firm SP Ventures’ AgVentures II fund has reached a R$130m ($25.2m) second close featuring animal feed producer Adisseo and mining group Mosaic, AgFunderNews has reported.
Unnamed Brazilian family offices and an undisclosed Latin America-based wheat producer filled out the latest limited partners for the fund, which is targeting a $50m close.
AgVentures II focuses on agricultural, food, digital and life sciences technology developers in Latin America at seed and series A stage. It typically provides between $100,000 and $6m per deal.
Chemicals producer BASF and Syngenta Ventures, the corporate venturing unit for agribusiness Syngenta, led the vehicle’s $17.2m first close in August 2020, investing alongside unnamed individuals and fund-of-funds.
BASF had participated in an initial $4m close nine months earlier through its BASF Venture Capital subsidiary, joining unnamed corporate investors, financial institutions and family offices.
