Finistere, IFC Team Up on New Ag Fund Willow Hill Ventures
Summary
The companies say Willow Hill could fill the Series B funding gap facing agtech startups, and help gain traction in the marketplace.Finistere and IFC aren’t yet discussing how much money Willow Hill has to work with but in addition to providing capital, they claim that their new fund is the first one offering dedicated land and proprietary scientific testing programs that will enable companies to test new products quickly.Spencer Maughan, a partner at Finistere, said in a written statement that Willow Hill will test a mix of ag technologies and then fund and scale up those that work best.Willow Hill’s launch comes a little more than a year after Finistere raised $150 million for a fund focused on agricultural biotechnology.Those partners include Calgary-based AVAC and Bayer CropScience, which bases its North American headquarters in Research Triangle Park, NC.
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