Yissum Research Development Company, the tech transfer arm of Hebrew University of Jerusalem (HUJ), has launched Agrinnovation, a $4m fund to invest in agriculture innovations.
Australia-based investors Victor Smorgon Group led the investment into Agrinnovation, which was supported by Yissum and HUJ’s Provident Fund. Agrinnovation is also banking on support from other Chinese and Israeli investors which would bring the fund’s total to $6m.
The fund will focus on technology emerging from HUJ’s Faculty of Agriculture, and plans to invest in five technologies per year with an aim of bringing the tech through the valley of death.
Yaacov Michlin, CEO of Yissum, said: “Following the success of Integra Holdings, Yissum’s biotech holdings company, we decided to adopt a similar model in the field of agritech. The Hebrew University’s Faculty of Agriculture is the source of an impressive track record of commercial success, and is responsible for Israel’s leadership in the field. Agrinnovation is an efficient investment vehicle in the next generation of ground-breaking innovation, which will ultimately give rise to innovative ag-tech products.”
