Dutch banking and investment giant Rabobank announced a new commitment of 80 million Euro (US$90 million) into Rabo Frontier Ventures. This latest funding brings the venture fund’s total capital to 150 million Euro (US$170 million).
Originally launched by Rabobank in January 2018, Rabo Frontier Ventures focuses on investment opportunities related to high-potential, early-stage food and agricultural companies, as well as fintech companies. Under its strategy, the fund supports startups, spin-offs, and scale-ups, leveraging partnership relationships with Rabobank, and offering knowledge, expertise, and access to the Rabobank network to achieve collective value.
“RFV provides Rabobank with an added vehicle for working more shoulder-to-shoulder with innovative businesses with the aim of transforming the Fintech and Food & Agri sector and building a sustainable and future-proof banking model,” said Harrie Vollaard, managing partner at Rabo Frontier Ventures, at the time of the fund’s January 2018 launch.
To date, the fund has made 10 investments, including investments in European blockchain platform We.trade; komgo, a global blockchain-based solution for commodity trading; a and fintech startup Tellow. Its most recent investment was in October 2018, when it participated in a $14 million Series B for ProducePay, a company that provides fresh produce farmers with financial resources, tech tools, and data insights that address the lack of access to short-term financing and transparency within the agricultural supply chain.
With this additional capital secured from Rabobank, Rabo Frontier Ventures plans to expand its investment strategy.
“After two years with more than ten investments in a row, it is time to broaden our horizon further. We see many opportunities all across the globe to invest in companies who align with our strategy of sustainable growth,” said Vollaard.
This strategic shift will see the fund turning its attention to global innovation hubs such as San Francisco, Tel Aviv, and Singapore.
“We see that innovation is definitely accelerating in cities known for their innovative mindset,” said Vollaard. “We can add value in these innovation hotspots with the assets of the Rabobank.”
“As the strategic investment fund of Rabobank – one of the largest Food and Agri banks globally – we have the opportunity to leverage our position and to connect entrepreneurs to markets anywhere,” continued Vollaard. “A decisive element for companies with the ambition to grow.”
-Lynda Kiernan