Norinchukin Bank agrees to invest in food and agri startup fund
The bank will also support growth of food and agri startup companies.
The Norinchukin Bank has agreed to invest into Seviora T3F Feeder Fund LP, a Singapore investment fund.
Seviora T3F Feeder Fund LP was established by Seviora Capital, a fund management company that is a subsidiary of Temasek, the investment fund of the Singapore government.
The fund invests in start-ups in the food and agriculture sector in the Asia Pacific region.
Norinchukin Bank and Seviora Holdings have also entered a strategic partnership aimed at leveraging their respective expertise in the food and agriculture sector and supporting the growth of the food and agriculture start-up companies in which they invest.
Through this partnership, Norinchukin Bank intends to share expertise, explore business opportunities and introduce partners to enhance collaboration between Japanese and Asia/Pacific Agri-food companies.
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“By returning advanced ag-tech and food-tech know-how from the fast-growing Asia/Pacific region to Japan and utilizing the platforms of the portfolio companies, we aim to contribute to the overseas expansion and sustainable growth of Japan's agriculture, forestry, fisheries, and food industries,” the Japanese bank said in a press release.
Norinchukin Bank also said that it plans to engage with Seviora Holdings and portfolio companies on environmental and social issues, such as reducing greenhouse gas emissions, addressing climate change and improving productivity in the agriculture, forestry, and fisheries industries.
“Furthermore, we will contribute to solving industry issues as a “leading bank that supports the agriculture, fishery and forestry industries, food production and consumption, and the daily lives of local communities,” Norinchukin Bank stated.