The Ledger
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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.”
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.”
AgFunder is raising a $20M fund to co-invest alongside platform investors
“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.”
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.”
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.”
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.”
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.”
AgFunder listed 21 companies raising $35M in its first two years
“So we've listed about 21 companies on the platform. The listed companies have raised, I guess, about thirty-five million dollars over the last two years.”
AgFunder is shifting to charge management fees and carried interest
“When we move over to an asset management model, which is basically what lending club does we will take a management fee on capital raised to the platform. Then we also basically take what's called a carried interest, which is basically a portion of the profits…”
AgFunder has about 3,200 accredited investors on its platform
“We've got about 3200 accredited investors on the platform, and I can't say that there is a particular profile for those investors.”