Banking & Finance UAE’s Agthia launches $54m fund for agritech startups By Pramod Kumar July 13, 2023, 5:21 AM Agthia CEO Alan Smith said the company will offer its product, market, and distribution expertise to the entrepreneurs under the programme UAE food and beverages firm Agthia Group has launched a AED200 million ($54 million) corporate venture capital fund to support agritech startups. Agthia Ventures, funded by Agthia and its parent company ADQ, will be jointly managed with Touchdown Ventures, a US-based operator of corporate venture capital programmes for blue-chip corporates that has more than 100 completed venture investments to date. Food sector dominates new factories approved in Saudi Invictus reveals $270m Africa investment plan Using Touchdown’s network of start-ups, venture capital relationships, incubators and accelerators, Agthia Ventures will identify early-stage, seed and growth investment opportunities within relevant and target geographies. Investments will focus on brands, categories and solutions aligning with Agthia’s portfolio, such as snacks and beverages, value chain technology and ingredient technology. Target investment interests include premium and “better for you” snacks and beverages, functional water and hydration, alternative proteins, sustainability solutions in farming and packaging and e-commerce solutions for the food and beverage industry. Alan Smith, CEO of Agthia, said the company will offer its product, market and distribution expertise to the entrepreneurs supported by the program.
