FLORA Ventures announced the launch of its $80M fund, and its first closing with commitments of $50M, making it the largest Israeli-based AgriFood VC. And, according to IVC data, it is the largest Israeli new VC fund to have completed a first closing during 2023 across all tech investment verticals.
FLORA Ventures invests in early-stage start-ups from two of the leading AgriFood ecosystems, Israel and Europe, that are building a healthier, more sustainable and resilient AgriFood system; and supports those ventures in scaling globally.
The fund’s model is unique in that it is the first VC fund to tap the world’s ‘original’ innovative agriculture pioneers – the Israeli Kibbutzim – as anchor investors and partners.
Some of FLORA’s other anchor investors are the Haifa Group, a world leader in plant nutrition and special fertilizers; and the Harel Group, Israel’s largest insurance and finance group with more than $100B assets under management (AUM).
Gil Horsky and Esther Barak-Landes, Co-founders, say the infliction point of COVID-19, Ukraine war and the climate crisis underscored the urgency for a fund like FLORA Ventures to accelerate innovation and impact in the $8T AgriFood industry.
“I’ve been fortunate in my career to lead important VC deals in the Retail-Tech, FinTech, and Digital Transformation sectors, which enables me to reapply proven technologies and business models to the AgriFood industry where it is greatly needed. I am excited to bring my skills to finding and fueling start-ups from Israel & Europe that are good for people and kind to the planet, while helping to build the next generation of AgriFood unicorns,” Esther Barak-Landes, Co-Founder, FLORA Ventures
“Working for leading food multinationals, as well as co-founding one of the industry’s most successful corporate venture capital (CVC) and incubation initiatives in Mondelēz, taught me the value of having design partners early on. That’s why we are excited that FLORA can provide our start-ups proprietary access to Haifa Group, Sadot Kibbutzim and Harel Group, which are among the most innovative and agile design partners in the industry,” said Gil Horsky, Co-Founder, FLORA Ventures
FLORA Ventures already completed its first investment in Arrakis Bio, a stealth-mode Israeli startup, developing a breakthrough technology poised to revolutionize the production and utilization of human collagen and gelatin, that is animal free, high quality & pure.