Rabobank invests $90mn into tech venture fund
Dutch multinational bank Rabobank has announced it is almost doubling its current investment in its technology venture fund which targets early stage fintech and agritech startups.
The Rabo Frontier Ventures fund was officially launched as a subsidiary of Rabobank last January. Rabobank is a leading bank in food and agriculture financing as well as sustainability-oriented banking.
Rabobank will now invest $90mn (€80mn) in the fund, bringing the total up to €150mn. The company intends to expand its investment strategy to San Francisco, Singapore and Tel Aviv.
Harrie Vollaard, managing partner at Rabobank, said: “After two years and more than 10 investments in a row, it is time to broaden our horizon further. We see many opportunities all across the globe to invest in companies who align with our strategy of sustainable growth.
“We are keen to work with entrepreneurs and investors in prime markets like fintech and agtech. With our knowledge, network and capital we help ambitous companies to reach the next level.”