AgDevCo lands $32 million to launch African agribusiness-focused AgDevCo Ventures
- AgDevCo raises $32 million in funding from the UK's FCDO to launch AgDevCo Ventures for early-stage agribusinesses in Africa.
- AgDevCo Ventures will provide financial support to SMEs in Africa, focusing on smaller investments in the 'missing middle' segment.
- The venture aims to create jobs, increase smallholder farmer incomes, and build climate resilience in East African countries initially.
The launch of AgDevCo Ventures is a positive development for African agriculture. By providing financial support to early-stage agribusinesses, the venture aims to address the funding gap in the 'missing middle' segment. This initiative has the potential to create more jobs, improve smallholder farmer incomes, and promote climate resilience in the region.
