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Food and Agriculture Finance Update - September 11, 2018

CDFA Food and Agriculture Finance Update
September 11, 2018
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CDFA Food & Agriculture Finance Update


St. Louis Agtech Company Raises $60M
Benson Hill Biosystems has raised $60M in a Series C financing round led by Google Ventures. Benson Hill Biosystems aims on increasing productivity through a data driven approach to crops improvement.

Corsair Announces $11.1M New Investment in Nashville, TN
The $11.1M expansion will add a production facility in The Nations neighborhood to expand capability for production and warehousing of whiskey in barrels. The company will also locate its headquarters operations into the new facility.

Opportunity Zone Investment in Small Food Business & Energy Startup
Investors are beginning to mobilize around the opportunity to tap at least part the vast pool of unrealized capital gains for small-business creation. Impact investors argue that existing business in the food & renewable energy sector are especially ripe for opportunity zone investment despite current barrier to financing existing businesses.

Good Food Access Grant Helps Wadena, MN Farmers Market Grow
A second round of funding from the Minnesota Department of Agriculture (MDA) shows that a statewide program designed to help reduce the lack of access many Minnesotans have to healthy and affordable foods continues to be very popular with food retailers and others throughout the state. About $11,000 from this source have made their way to the Wadena Farmers Market. 

The Innovate Fund Allocates $8.5M for Restaurant Depot in North Charleston, SC
The Innovate Fund in Greenville, S.C., has allocated $8.5M in New Markets Tax Credits (NMTC) to JETRO Holdings, LLC. for the development of a new 62,333 square-foot Restaurant Depot which opened in North Charleston in May 2018.

Full Harvest Closes on $8.5M Investment to Tackle Food Waste Problem
Full Harvest, a marketplace for excess produce that would otherwise go to waste, announced it has closed an $8.5 million Series A round of financing led by Spark Capital and a number of other investors from silicon valley.

FireFly Farms Secures Working Capital for RSF Transformation Fund
FireFly Farms Inc, a goat milk cheese producer in the Allegheny Plateau of Western Maryland. has financed additional working capital through the RSF Social Finance's Food System Transformation Fund.

Opinion: What Public Banks Can Do for Food Systems
Debbie Hillman of Evanston Food Policy Council argues that in the current economy, public banks can help food-and-farm practitioners by course-correcting economies through countercyclical lending to keep small, sustainable farms in business. They also keep infrastructure operating, and through emergency funding in instances like the dairy farmers crises or in food insecurity.

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Food & Agriculture Finance News

US Foods to Acquire SGA's Food Group of Companies for $1.8B
Restaurant Business | Sep. 10 | Economic Development | Food Systems Finance

Automated Food Dispenser Business Farmer's Fridge Raises $30M from Investors
Just-Food | Sep. 7 | Agriculture Finance | Economic Development | Food Systems Finance

Food Lion in $168M Store Investment
Chain Store Age | Aug. 27 | Economic Development | Food Systems Finance

The Winery at Bull Run, VA Gets State Grant, Plans $1.7M Expansion
WTOP | Aug. 23 | Agriculture Finance | State Finance Program

Feast! Smart Start Program Assists Area Food Entrepreneurs
KEYC Mankato | Aug. 21 | Food Systems Finance | State Finance Program

Can Big Money Fix a Broken Food System?
Civil Eats | Aug. 15 | Agriculture Finance | Economic Development | Food Systems Finance

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