Japanese food producer Kagome, through its U.S. subsidiary Garbic USA, has established the SVG Ventures Sunrise Fund, a $50 million corporate venture capital initiative aimed at fostering innovation in the agricultural sector.
The fund, set to operate over a ten-year period, is managed in partnership with Silicon Valley-based venture capital firm SVG Ventures, which will act as the general partner.
The SVG Ventures Sunrise Fund is dedicated to supporting startups that develop cutting-edge agricultural technologies globally.
Initial investments will range between $500,000 and $1 million per startup, with the potential for additional follow-on funding to further promising ventures.
This strategic move underscores Kagome’s commitment to addressing critical challenges in the agri-food industry, including climate change and crop diseases, by promoting advancements in drought-resistant crops and sustainable farming practices.
Kagome’s existing U.S. operations, such as Ingomar Packing Company and United Genetics Seed Company, will play a pivotal role in assessing and implementing the technologies supported by the Sunrise Fund.
The company, renowned for its tomato-based products and leadership in Japan’s ketchup market, aims to bridge the gap between agricultural needs and technological solutions through this initiative.
The collaboration with SVG Ventures leverages the latter’s extensive experience in accelerating agritech startups, enhancing the fund’s capacity to drive sustainable innovation across the agricultural value chain.
This partnership is expected to contribute significantly to building a more resilient and sustainable agricultural ecosystem, benefiting both Kagome and the broader global farming community.
PEVCJournal.com