Agricultural product manufacturer Agrium has agreed to contribute an undisclosed sum to Finistere Ventures Fund II, the latest fund to be raised by US-based venture capital firm Finistere Ventures.
Finistere II was launched in 2015 and is targeting early and growth-stage companies developing plant nutrition and biological products, seed technology, digital agriculture products and novel farm systems.
Chuck Magro, president and CEO of Agrium, said: “We believe this investment will significantly enhance Agrium’s ability to access and evaluate the pipeline of rapidly evolving agricultural technologies, which will enable us to continue expanding our strong portfolio of innovative products and solutions for growers.
“Agrium is in an excellent position to commercialise these new technologies across our 1,400 ag-retail centres, which service hundreds of thousands of growers in key agricultural markets.”
Other limited partners in the fund include chemicals and agricultural technology producer Bayer and non-profit agricultural investment firm Avac.