Robert LeClaire, co-founder and CEO of AgFunder, announces the platform's pivot from a pure marketplace to raising and deploying an investment fund.
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“So we're basically raising a capital fund twenty million dollar capital fund. We will be then investing in all of the companies on the platform. And then effectively we invite now investors to co-invest alongside of us.”
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More from Robert LeClaire
AssertionSupported
Agriculture represents 10% of global GDP but 0.3% of investable assets
“So globally, agriculture represents about 10% of global GDP, but only about .3% of the world's investable assets are allocated to this space.”
Robert LeClaireOct 17, 2016▶ 2:22EP 450: 14 Ag Companies Raise $32M Using AgFunder.com with CEO Rob Leclerc
Insight
Rob Leclerc: Online financial marketplaces eventually evolve into asset managers
“This is a sort of the case with all basically online financial marketplaces. They start off as pure marketplace and then effectively move over to be more of an asset manager or online venture capital firm or private equity firm or online kind of lender.”
Robert LeClaireOct 17, 2016▶ 4:37EP 450: 14 Ag Companies Raise $32M Using AgFunder.com with CEO Rob Leclerc
AssertionNot checkable as stated
Agtech had one global conference and zero accelerators when AgFunder started
“When we started AgFunder, I mean, this was like the dark ages of food tech and ag tech. There was there was one conference globally. There was zero accelerators. There was no data.”
Robert LeClaireOct 17, 2016▶ 12:03EP 450: 14 Ag Companies Raise $32M Using AgFunder.com with CEO Rob Leclerc
Disclosure
AgFunder plans to expand into farmland and traditional agribusiness investments
“Eventually we will be offering farmland. Eventually we'll be offering sort of more traditional agribusiness opportunities, emerging markets.”
Robert LeClaireOct 17, 2016▶ 3:41EP 450: 14 Ag Companies Raise $32M Using AgFunder.com with CEO Rob Leclerc
AssertionNot checkable as stated
AgFunder generated about $150,000 in revenue in Q1 2016
“For instance, in the first quarter of this year, We had revenues of about a 150,000 here in 2016.”
Robert LeClaireOct 17, 2016▶ 4:53EP 450: 14 Ag Companies Raise $32M Using AgFunder.com with CEO Rob Leclerc
AssertionSupported
AgFunder has raised about $1.8M in venture funding from 500 Startups
“We have venture funding. We were backed by 500 startups went through their accelerator. So we have about 1.8 million in in funding.”
Robert LeClaireOct 17, 2016▶ 5:42EP 450: 14 Ag Companies Raise $32M Using AgFunder.com with CEO Rob Leclerc
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