A new $100 million fund aims to make a positive difference in the world's food and water supply.
The Natural Ventures Fund I, a 10-year closed fund, is the first from a consortium of investors that includes a Swiss family office and an unnamed investor in the United Arab Emirates, reports the New York Times.
The fund, which closed with $100 million in commitments, aims to advance sustainability in the global food and water supply, in alignment with the UN's Sustainable Development Goals.
According to UN statistics, 2.4 billion people currently live in countries with stressed water supplies, and agriculture consumes 72% of global freshwater supplies.
The fund will invest in technologies that could help mitigate threats to food and water security.
Last month, Natural Ventures invested in California nanotechnology company Actives, which could reduce water desalination costs by 35%.
The company has also invested in a $44 million Series C round for N-Drip, an Israeli agtech company with technology for gravity-based irrigation that dramatically lowers the cost of water desalination, in addition to two seed funding rounds totaling $29 million for Constellr, a German satellite technology company providing predictive crop stress data.
"We are excited to partner with a fund that is looking to effect such positive change," says a regional head of fund Read the Entire Article
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Jim Fruchterman founded the now 24-year-old social enterprise Benetech, a nonprofit tech company that focuses on developing technology for social good. Fruchterman has also launched a new initiative called Bookshare, which is a membership-only crowdsourced  online library for people with disabilities.