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Cibus raises $645M to invest in sustainable food, agriculture

Illustration of combine harvesters making a dollar sign in a field.

Illustration: Lazaro Gamio/Axios

Cibus Capital, the London-based sustainable food and agriculture investment firm, has raised $645 million spread across two funds.

Why it matters: The fundraising reflects the level of investor interest in the food and ag-tech sectors.

Zoom in: Cibus closed $510 million for its second mid-market private equity fund and raised $135 million for its second venture fund.

The funds attracted major pension systems, including the Los Angeles County Employee Retirement Association, and Australia's Retail Employees Superannuation Trust.

The dual raises took about 2.5 years to close, a Cibus spokesperson tells Axios.

The private equity fund will make between 8-12 investments, with initial checks of $30 million to $70 million.

  • It's already backed four mid-market companies, the spokesperson says.
  • The fund is mostly targeting European startups, though it's also open to investments in North America and other regions.

The venture fund is targeting 18 investments, with first checks of $5 million to $10 million.

  • It's backed 10 startups in ag-tech and food-tech, per the spokesperson.
  • Unlike the private equity vehicle, the venture fund is equally targeting North America and Europe.
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