Serra Ventures and Grondex International Partner Up for Next Ag & Food Tech Fund
Champaign, IL, January 31, 2024-- Serra Ventures, LLC, a Champaign-based venture capital firm with offices in San Diego, Chicago and Park City, announced in the first week of 2024 that it has partnered with Grondex International, B.V., a Netherlands-based farmland management firm, to create the Serra-Grondex Ag & Food Tech Fund II, LP.
The directors of Grondex, Joost Pennings and Peter Prins, bring a wealth of agriculture and finance experience to the relationship. They manage thousands of acres of farmland and farm operations for institutional investors in Europe. The three managing partners of Serra, Tim Hoerr, Dennis Beard and Rob Schultz, each boast more than a decade of venture experience in food and ag technology, having invested in over 50 ag tech start-ups since 2011. The partnership brings together two strong teams with over 150 years of collective experience that will work in tandem on all aspects of the Serra-Grondex Ag & Food Tech Fund II, including deal sourcing, financing transactions, and post-investment coaching of portfolio companies.
"We are very excited about this powerful partnership with Grondex. Joost Pennings is a world-renowned agricultural economist at Wageningen University and Former Faculty Excellence Professor at University of Illinois. His colleague Peter Prins is an experienced risk manager, data analytics expert and practitioner of cutting-edge farming techniques. We see tremendous value combining our ag tech venture expertise with this experienced team from the Netherlands, one of the world's leading ag and food ecosystems,” said Tim Hoerr, CEO of Serra Ventures. “As Europe’s leading regenerative farming asset manager, Grondex offers unmatched insight and reach into the Ag and Food space from a global perspective. We look forward to solving the world’s biggest problems in Ag and Food together.”
"We are thrilled to join forces with Serra Ventures,” says Peter Prins, co-director at Grondex International. “Our shared commitment to foster regenerative solutions in the Ag and Food Tech sector is more than a business venture; it's a step towards a healthy and sustainable future. We look forward to build upon Serra Ventures’ impressive track record and to extend Serra’s network to Europe. Together, we aim to support founders that transform the Ag and Food industry, fostering startup growth that benefits both the economy and the planet."