TLDR:
- Acre Venture Partners closes a $140 million agrifoodtech fund to invest in startups.
- Fund III has invested in six startups with a focus on ag robotics and AI/ML.
Lucas Mann, cofounder and managing partner at Acre Venture Partners, shared insights on the fund’s investment areas and strategies. Fund III, backed by new and returning investors, has already made investments in six startups ranging from ag robotics to clinical research platforms. The firm is positioning itself as a climate fund using food and agriculture as the mode of action, exploring new areas beyond traditional food and agriculture to understand their potential impact on agricultural systems.
One significant area of focus for Acre Venture Partners is large data systems and the capabilities of artificial intelligence and machine learning in informing incumbent companies. The fund is also shifting its approach to include ag robotics investments, leveraging technologies like AI SLAM for autonomous machines. While the overall agrifoodtech investment landscape has seen a decline, Mann remains optimistic about the sector’s growth potential and the quality of deal flow in the coming years.
Despite the challenges in the funding environment, Acre Venture Partners continues to navigate the landscape by focusing on kinetic energy and attracting high-quality investors for follow-on rounds. Mann emphasizes the importance of understanding the venture investment landscape in agrifoodtech, where the fund has found success in high-margin businesses like Source and Highlight. With a team expansion that includes operating partners Lynda Deakin and Chef David Chang, Acre Venture Partners remains committed to supporting innovative startups in the agrifoodtech space.
