Agrivida Launches $20 Million Financing Round with Lead Investment from the Open Prairie Rural Opportunities Fund
EFFINGHAM, IL, July 24, 2019 – The Open Prairie Rural Opportunities Fund, a growth-stage private equity fund dedicated to providing capital to agribusiness companies throughout rural America, announces a lead investment in Agrivida’s current round of financing. The $8 million first close includes $3 million from Open Prairie and participation from existing investors including ARCH Venture Partners, Batios Holdings Limited, Cultivian Sandbox, Syngenta Ventures, Maschhoff’s Agricultural Holdings and Middleland Capital. The new funding will facilitate expansion of the Agrivida research and development platform and advancement of the company’s commercialization strategy for its GRAINZYME® Phytase technology into the global poultry and swine markets.
Agrivida, headquartered in Village of Four Seasons, Missouri, is an animal health and nutrition company that focuses on development of feed additives for poultry, swine, dairy and beef cattle and aquaculture. Agrivida’s GRAINZYME® Phytase expresses enzymes and proteins by utilizing plants as the core manufacturing and delivery system. This innovative technology has a favorable sustainability profile while also providing increased value and profitability to producers.
“Agrivida’s sustainability focus on animal feed has unlocked the power of the corn kernel to enhance the production and delivery of beneficial enzymes and other nutrients while improving the environment by reducing levels of nitrogen and phosphorus,” said Open Prairie’s founder and managing partner, Jim Schultz. “Through strategic collaborations with poultry producers and the introduction of new products for the swine market later this year, Agrivida is well-positioned for significant growth opportunities.”
“Agrivida is pleased to have Open Prairie join the investment syndicate and lead this round. Their network and reach in the agriculture sector is significant and will add value to our strategic initiatives,” said Dan Meagher, President and CEO for Agrivida. “Agrivida has achieved a number of milestones including commercial revenue growth in poultry, approval from the Food and Drug Administration Center for Veterinary Medicine on July 8, 2019 for sale of GRAINZYME® Phytase into US Swine, early stage research and development success for solutions in Animal Health and Ruminant additives and forages. Open Prairie’s commitment to Agrivida, along with our existing investors, positions Agrivida for a very bright future. We plan to secure additional investors for the syndicate as we embark on an exciting phase of expansion for Agrivida.”
About Open Prairie
Open Prairie, based in the heartland of America with headquarters in Effingham, Illinois, is a multi-faceted private equity fund management firm with deep roots in rural America. Founded in 1997, Open Prairie has consistently focused on facilitating capital accessibility in underserved markets. The Open Prairie team has managed funds ranging from technology-based venture capital and private equity to farmland portfolios. Through its expertise across all functional business disciplines and an extensive network of professionals, Open Prairie works in partnership with its portfolio companies to accelerate growth while providing top-tier returns to its investors. For more information about Open Prairie, please visit www.openprairie.com.
About the Open Prairie Rural Opportunities Fund
The Open Prairie Rural Opportunities Fund is an $81 million private equity fund licensed by the US Department of Agriculture (USDA) as a Rural Business Investment Company (RBIC). With a collaborative partnership comprised of investors from Farm Credit institutions, commercial and community banks, strategics, family offices and high net worth individuals committed to advancing rural America, the Open Prairie Rural Opportunities Fund is focused on providing debt and equity capital of $2 - $10 million to growth companies in food and agriculture. For more information on the Open Prairie Rural Opportunities Fund, please visit www.openprairie.com.
Imagine it. Deliver it. Committed to building a better future for everyone, Agrivida scientists are experts in biochemistry, plant biology, molecular biology, agriculture, and nutrition. Dynamically addressing the needs of both animal nutrition and animal health through its unique technology platform, Agrivida is delivering on its promise of innovative new corn products that offer effective, simple, and convenient solutions more sustainably than ever before. The company’s corn-based feed additive, GRAINZYME® Phytase, is just the first of many products that will benefit producers of poultry, swine, dairy and beef cattle, and aquaculture. For additional information, visit www.agrivida.com.
Jason Wrone – +1.217.347.5430