Seviora to Invest in Agri-Food Companies in Asia Pacific With New $173 Million Fund

Seviora Holdings (“Seviora”) has announced a strategic partnership with Temasek to jointly invest in late venture and early growth Agri-Food Companies in the Asia Pacific (“APAC”) region. This partnership will be conducted through Seviora Capital’s The Future of Food and Farming (the “Seviora T3F”) Strategy.

Since its inception in August 2023, the Seviora T3F Strategy has successfully raised US$173 million in capital. This amount includes seed capital from Seviora and Temasek, ensuring a strong alignment of interest with all investors. Additionally, cornerstone investor Norinchukin Bank and other institutional investors have contributed to the fund. Seviora Capital aims to continue raising capital from institutional investors to further drive transformation in the Agri-Food industry.

The Seviora T3F Strategy focuses on investing in innovative and high-growth Agri-Food companies in the APAC region. These companies provide sustainable solutions and technologies to address the challenges posed by demographic changes and evolving consumer needs. The strategy aims to accelerate the Agri-Food system towards a more sustainable and resilient future, meeting the changing consumption trends.

Jimmy Phoon, CEO at Seviora and Seviora Capital, highlighted the uniqueness of the Seviora T3F Strategy as an investment avenue to benefit from the transformation and high-growth in the APAC Agri-Food sector. He expressed excitement about jointly investing with Temasek, a globally recognized leader in the Agri-Food sector, to capture the potential of this industry.

As Investment Manager, Seviora Capital will build a portfolio of investments from opportunities identified by Temasek. This will leverage Temasek’s extensive investment network, deep knowledge, and strong sourcing capability in the Agri-Food sector. Both Seviora Capital and Temasek will jointly evaluate these opportunities, capitalizing on each other’s complementary strengths, and independently making investment decisions.

Anuj Maheshwari, Head of Agri-Food at Temasek, emphasized the critical role of the transformation of the Agri-Food sector in decarbonization, ensuring food security, and meeting the evolving needs of consumers. Through the partnership with Seviora Group, Temasek aims to scale capital and create value by investing in late venture and early growth Agri-Food companies across the APAC region that are at the forefront of innovation, leveraging technology to drive positive and sustainable change across the Agri-Food value chain.

Seviora and Temasek view the Agri-Food sector in APAC as being at a pivotal inflection point, presenting attractive investment opportunities. Through the Seviora T3F Strategy, they aim to capitalize on macro trends shaping the APAC Agri-Food sector and make investments that will drive transformation and positive changes across the Agri-Food value chain.

In January 2024, under the Seviora T3F Strategy, an investment of US$17 million has been made in Country Delight, a subscription-led online food essentials delivery brand in India. Seviora Capital believes that Country Delight’s tech-enabled platform and strong brand proposition allows the company to be best positioned to address key customer pain points relating to purity, freshness, and convenience.

Temasek has a strong track record in investing in innovative and scalable farm-to-fork businesses globally, with a growing portfolio of investments in APAC. Seviora Capital aims to deploy capital to this key sector in APAC to benefit from the strong growth expected over the next decade.