Tenacious Ventures, Australia’s first dedicated agrifood tech venture capital firm, supports early stage companies that are developing technologies designed to lower emissions and increase energy efficiency in the agriculture sector. The A$30 million Tenacious Ventures Fund I will invest in up to 20 early-stage agrifood tech companies that are underpinned by emerging technologies and transformative business models. The CEFC has made a cornerstone investment commitment of $8 million equity to the fund, through the Clean Energy Innovation Fund, which draws on the finance and skills of the CEFC and the Australian Renewable Energy Agency (ARENA).
Agriculture is a significant and growing contributor to global emissions and the world’s largest source of non-CO2 emissions, with about 14 percent of global greenhouse gas emissions. It is estimated to represent up to 30 percent of global emissions when the broader food system, such as growing, harvesting, processing, packaging, transport, and consumption, are taken into account. Emerging agricultural technology targets measures to improve farm efficiency and increase food yields, reduce agricultural inputs, land clearing and methane emissions, advance plant science and crop genetics and minimise food waste.