Tenacious Ventures, an Australia-based venture capital firm focused on agriculture and food technology, has closed its first fund at A$35m ($27m).
The local state-backed Clean Energy Finance Corporation and family office Grok Ventures have committed to the fund, Tenacious Ventures Fund I. The fund is targeting pre-series A businesses.
Matthew Pryor, co-founder of Observant, and Sarah Nolet, founder of AgThentic, founded Tenacious Ventures, which has backed Goterra, SwarmFarm Robotics, Nori, Vow, RapidAIM and Nowadays.
Tenacious is part of the federal Australian government’s Early Stage Venture Capital Limited Partnerships (ESVCLP) scheme.
Photo of Nolet from LinkedIn
