Temasek, Japan's Norinchukin to anchor $173m fund for agri, foodtech startups

Temasek, Japan's Norinchukin to anchor $173m fund for agri, foodtech startups

Photo: Jan Kopriva /

Singaporean state-owned investor Temasek Holdings Pte and Japan’s Norinchukin Bank are set to anchor a $173 million fund that will invest in agriculture and food technology startups across the Asia-Pacific region according to a Bloomberg report on Thursday.

The Seviora T3F Strategy fund, which will also focus on efforts to decarbonise the food and agriculture industries, will be managed by Seviora Capital, a wholly-owned subsidiary of Temasek.

Furthermore, the fund has already started investing. Seviora said the fund has made a $17 million investment in India’s Country Delight.

According to information on Seviora Capital’s website, the Seviora T3F (‘Future of Food and Farming’) Fund is a venture capital and growth equity fund, investing in venture and early stage agri-food Companies in the APAC region, leveraging technology to drive positive and sustainable change across the agri-food value chain.

The mission of The Norinchukin Bank, according to its website, is to fully support Japan’s agricultural, fisheries and forestry industries.  These are also sectors where Temasek has been steadily growing its presence.

Since food systems account for approximately one-third of global greenhouse gas emissions, the establishment of the new fund is timely. There is increasing pressure on agricultural giants to track and reduce their carbon emissions, even urban gardens are being scrutinised for their higher carbon footprints than conventional farms. 

The Bloomberg report quoted Anuj Maheshwari, head of agri-food at Temasek, who underscored the importance of the transformation of the agri-food sector for decarbonisation, ensuring food security, and meeting the evolving needs of consumers.

Edited by: Pramod Mathew

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