Indonesia: Proterra invests $100m in FKS Food & Agri

FKS Food & Agri
Photo: FKS Group

Indonesia-based food and agribusiness firm FKS Food & Agri has received $100 million in funding from US-based private equity firm Proterra Investment Partners.

Proterra will pick up a minority stake in FKS Food & Agri which will use the capital to expand its food processing and logistic capabilities, according to a report by the Asian Venture Capital Journal.

FKS Food & Agri is part of the FKS Group, a South-East Asian holding company focused on food, energy and property.

Proterra Investment Partners, formerly known as Black River Asset Management, specialises in growth equity investments. It seeks to make investments in natural resources with a focus on agriculture, food, and metals and mining, primarily in emerging markets.

Proterra describes its agricultural investment strategy as being borne out of rising food demand that calls for more funds to be poured into primary production. It typically partners local firms and helps them apply professional management and best-in-class technology to maximise land productivity.

Minnesota-based Proterra Investment Partners was one of three independent companies to emerge from Black River Asset Management after Cargill announced its subsidiary‘s breakup in September 2016. Although not an owner, Cargill maintains its relationship with Proterra as a committed limited partner.

At the time of the spinoff in January 2016, Proterra had more than $2.1 billion in assets under management, with about $1.2 billion in investments in three agriculture-related funds and $782 million in three food-focused funds.

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