Radicle Growth Fund, which specializes in ag-tech and food-tech, has officially announced its entry into the Israeli high-tech market and its intention to identify promising Israeli startups, invest in them and support their technological and business growth. The fund, which specializes in early stage startups, was established in cooperation with leading international companies: Bayer, DowDuPont, Finistere Ventures and OurCrowd
As a first step, the fund announced its intention to invest up to $250,000 in an Israeli company that will win the Radicle Challenge Israel competition that will be held in Israel over the next month.
The competition was announced by Kirk Haney, founding partner of Radicle Growth at a special event in Startup Nation Central headquarters. This competition is part of a collaboration between Startup Nation Central, Radicle Growth and OurCrowd. Haney noted that the competition is open only to Israeli companies in seed and pre-seed stages in the ag-tech and food-tech sectors, which are looking for support in entering the international ecosystem.
Radicle Growth, which was established two years ago as an early stage fund, specializes in and invests in ag-tech and food-tech. According to the fund's methodology, it identifies young companies with potential through the Radicle Challenge competitions and invests up to a quarter of a million dollars in the winner. To date, the company has made eleven investments in seven companies that have been identified by this method, and now it will choose an Israeli company that will receive an investment and receive comprehensive professional support.
OurCrowd founder and CEO Jon Medved said, "Radicle is an important global fund in the fields of ag-tech and food-tech, and it can open to Israeli entrepreneurs a broad path to the global market. We invested in the fund because we believe that partners such as Bayer and DowDuPont can contribute critical knowledge to the success of startups - and this is indeed good news for local entrepreneurs."
Radicle Growth founding partner Kirk Haney said, "When we started Radicle Growth, we set ourselves the goal of entering the Israeli market and advancing the fields of ag-tech and food-tech. We see innovation and accelerated growth here. This is supported by data from Start Up Nation Central ; $800,000,000 were invested in Israeli ag-tech companies in the past five years and about 500 companies are operating in these fields in Israel. Israeli entrepreneurs will discover that Radicle does not only invest in promising companies but also provides them with an entire ecosystem of multinational partners with vast knowledge and experience."
Published by Globes, Israel business news - en.globes.co.il - on March 26, 2019
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