Tokyo-based Norinchukin is an agriculture, forestry and fisheries bank, while Temasek has been steadily growing its presence in the space. The fund has several other institutional backers and aims to grow beyond the initial amount as more investors join. Seviora Capital will be the investment manager and will build a portfolio from deals identified by Temasek, it said.
Singaporean state-owned investor Temasek Holdings Pte and Japan’s Norinchukin Bank are set to anchor a US$173 million ($233.1 million) fund that will invest in agriculture and food technology startups across the Asia-Pacific region.
The fund, known as the Seviora T3F Strategy, will also focus on efforts to decarbonize the food and agriculture industries, according to a statement from Seviora Holdings, a wholly owned subsidiary of Temasek that manages US$52 billion in assets.
