World-class competition

The company has launched the NZ $ 40M Finistere Aotearoa Fund in partnership with New Zealand Growth Capital Partners (NZGCP), to help develop the country's robust technology and IP portfolio, promoting solutions that address sustainability needs and nutrition.

“To remain globally competitive as a producer of high-value food, NZ has had to develop incredibly efficient production systems,” said Dean Tilyard, New Zealand venture partner at Finistere. “We have firmly established ourselves as a leading agricultural exporter thanks to its competent growers and supply chain. Much of this efficiency has been gained through the application of science, and NZ now has leading scientific platforms in plant breeding and environmental technology that set it apart as a leader in the agri-food technology ecosystem.”

NZ Government Industry Transformation Plan

The New Zealand Government's Agriculture Industry Transformation Plan was launched last year, highlighting that investment was a key constraint for the sector. Mr Tilyard explains that NZ is a center of excellence in agricultural and food technology research and development (R&D) with high levels of public funding and highly efficient production systems.

“This world-class R&D leads to startups with good intellectual property and unique value propositions,” he said. “The development is also very profitable compared to other areas. There is a supporting government with a variety of grants and programs, as well as extremely efficient production systems for early market testing, an essential element for new agricultural ventures. However".

High potential technologies

The fund will focus on supporting high-potential technologies with a focus on advanced crop protection technologies, nutrient management, alternative proteins, food delivery, and supply chain advancements to promote a healthier and more sustainable food and agriculture ecosystem.

“BioLumic understands the relationship between UV light and plant growth by applying light recipes that increase positive plant traits and ultimately significantly increase yield,” Tilyard said. “The company has impressive clients and trials in horticulture, cannabis and soybean crops. ZeaKal increases a plant's ability to capture carbon and sunlight, allowing crops to store more energy, which translates to higher productivity per acre, higher nutrient density, and better carbon capture nutrient efficiency."

Kiwi exports

A broader industrial example of New Zealand agri-food innovation, according to Mr. Tilyard, has been the development of New Zealand kiwi exports, where more than 545.000 tonnes of fresh fruit were exported in 2019 worth 2.300 billion New Zealand dollars (US $ 1.600 billion).

Much of the value creation and development is supported by long-term breeding programs from Zespri and Plant and Food Research and the launch of new varieties, including the golden kiwi.

Finistere Ventures co-founder and partner Arama Kukutai added that relationship building and trust are at the core of his company's investment process.

Innovation epicenter

While New Zealand has been identified as an excellent example of an innovation epicenter with substantial promise in agri-food technology, Finistere Ventures also has established ecosystem strengths in North America, as well as Israel and Ireland.

“By bringing the connected capital and international networks necessary to nurture their raw business and technical talent, we have already funded top New Zealand companies and earned the support of investors around the world such as Rabobank, RIV Capital Inc. and Yamaha as part of our delegations in the region," said Kukutai.

“We are committed to giving New Zealand agri-food innovators the international perspective and network needed to build a vibrant startup ecosystem and ensure more New Zealand businesses become major players in the global agri-food sector.”