Field Notes: Australian farmland delivered its second negative return; Pollination launches climate VC fund
Agri Investor
Global coverage of the deals, firms and people driving agri-business today
Australian farmland delivered a second consecutive negative quarterly return, according to ANREV ; Pollination launches a A$150m climate and nature impact venture fund; Gresham House receives a ￡50m commitment to take Forest Fund VI to ￡150m; and more. Welcome to Field Notes, the start-of-the-week briefing from Agri Investor.
Tips and feedback to Binyamin Ali or email [email protected].
First look
Australian farmland returns remain negative
The latest edition of the ANREV Australian Farmland Index recorded a second consecutive quarter of negative annualized returns, following the index’s first-ever negative result in Q4 2023.
The annualized total return for the 12 months ending Q1 2024 stood at -0.45 percent, comprising an income return of -0.32 percent and capital growth of -0.18 percent.
They said it
“Our capital enables those successful family businesses that don’t have succession down the family and takes them forward under a corporate model”
Roc Partners managing partner Brad Mytton tells Agri Investor the generational change in Australian farmland ownership is a source of investment opportunity for the firm.
Fund watch
Pollination launches climate VC fund
Asset manager and climate change advisory firm Pollination has launched a venture capital fund focused on investments in climate and nature technology solutions in Australia.
The fund, which Pollination billed as the first of its kind in Australia to combine venture investments in climate and nature technologies and other solutions into one vehicle, is targeting a final close of A$150 million ($99 million; €92 million) in 2025, after an interim close later in 2024. Read in full
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Carbon markets
Biden wants more private capital in carbon markets
The Biden Administration has outlined its approach to advancing high-quality voluntary carbon markets in a joint statement of policy and principles.
The statement sets out seven principals it said represent the US government’s commitment to helping create the incentives and guardrails needed to ensure ambitious and credible climate action, through markets that generate economic opportunity as part of its Investing in America agenda. Read more
M&A
Namoi backs Olam
The long-running saga surrounding the takeover of Namoi Cotton Limited appears to be nearing a conclusion.
After trading offers, Singapore’s Olam Agri Holdings appears to have moved into pole position to acquire Namoi, ahead of Louis Dreyfus Company, which previously seemed to have the deal sewn up. Read on...
VC fundraising
eFishery, an Indonesian aquaculture company, has secured $30 million in green and social loans from HSBC Indonesia to accelerate distribution of its feeding product for smallholder farmers.
Lyris , a Saudi Arabia-based agtech climate company, raised $16 million in a Series A funding round led by Ecosystem Integrity Fund, with participation from Global Ventures, Dubai Future District Fund, Kanoo Ventures, Globivest and Bonaventure Capital.