GreenSoil, an established Canadian investment group, has announced the formation of a new VC dedicated to investing in Israeli companies in the agriculture and food technology arena. The fund will have a preliminary $12 million for investment, and intends to gather additional investors and increase the fund. This will be the first fund to invest exclusively in the agriculture and food technology arena in Israel. GreenSoil’s co-founders are Alan Greenberg, a Toronto-based real estate developer, and Gideon Soesman, formerly a senior executive at Royal Philips Electronics. The “pledge fund” is made up primarily of private Canadian investors. The fund will focus on companies which have already gotten to the sales stage, and will deploy its team to help its portfolio companies with hands-on management of their business development processes
Asked why GreenSoil has chosen to establish its fund, Greenberg said “We are focused on an area where the global problems are pressing – less arable land per capita, less water, more mouths to feed – and where the need for disruptive innovation is great. Israel is unique as a hotbed of food and agro innovation –drip irrigation and many hardy plant varieties were developed here – and these let us grow more food on less land with less water”.
The most notable Israeli company in the agricultural technology sphere is Kaiima, which develops agro-biotechnology, but GreenSoil partner Gideon Soesman has said that they have already seen dozens of promising Israeli companies in the agricultural technology arena.