THE Trendlines Group's agrifood venture capital fund, Trendlines Agrifood Fund, got another shot in the arm on Thursday with a US$10 million commitment from Trendfood.
Trendfood is wholly owned by Librae Holdings, a company related to British-Jewish property tycoon Vincent Tchenguiz.
Previously, Singapore state investment firm Temasek Holdings, on top of being an anchor investor in the fund, had also made a capital commitment to it.
However, Temasek's commitment is conditional upon the size of the fund, which is expected to hold its first close on or about Nov 15.
The fund could also get another US$2 million boost from a South-east Asian investor, The Trendlines Group said, conditional upon the signing and execution of binding agreements.
The Singapore-based Trendlines Agrifood Fund will invest in "new, innovation-based, agrifood tech companies" in Singapore and worldwide.