Bayer/Flagship Ventures to fund agtech start ups
Bayer CropScience and venture capital firm Flagship Ventures have launched a partnership to invest in agricultural technologies and start-up companies. The partnership includes an investment in Flagship Ventures Fund V, a $537 million venture capital fund that closed in March. Bayer brings its science and regulatory affairs knowledge to help Flagship to identify, fund, and develop start-up companies in agriculture, the company says. It joins AstraZeneca and Nestlé Health Science as partners in the fund, which is to focus on innovations in healthcare and sustainability in the energy, water, agriculture and nutrition sectors. Bayer’s North American R&D licensing and new ventures manager Geoff Kneen sees the link up as providing the company with a “a window into” areas of research such as genomics, IT/data management, and remote sensing.