Source: Media Outreach
Backed by both the Mohammed VI Polytechnic University (UM6P) and the OCP Group, the Fund will invest an initial capital of $50 million over the next 5 years to back founders building technologies to sustainably feed a growing population.
SAN FRANCISCO, US – African Media Agency – 22 March 2022 – Bidra (Arabic for “seed”) is a new fund focused on identifying, nurturing and empowering bold, innovative solutions in agriculture around the globe. Launched with the support of UM6P and the OCP Group, a global leader in plant nutrition. Bidra is focused on being a dynamic partner in the global effort to sustainably feed the world’s growing population.Based in San Francisco, California, Bidra will be initially equipped with 50 million Dollars to be invested over a period of 5 years. Bidra is a stand-alone fund operating independently whereby Bidra’s leadership is empowered to make investment decisions. The Fund is scheduled to begin operating as of April 1 2022. Bidra’s ambition is to have a tangible impact on agriculture by focusing on farmer solutions. In doing so, the Fund will cover areas such as crop inputs, digital agriculture services, and agri-market solutions.In partnering with the most promising entrepreneurs in agriculture and alliances with innovative ventures, Bidra will prioritize disruptive, scalable start-ups and empower them to benefit from the stimulating environment, cutting-edge know-how, market access, established brand and historic experience of the Mohammed VI Polytechnic University and the OCP Group.”I am thrilled to join Bidra at the most critical time in our industry. I’m thankful for UM6P’s initiative and their conviction in backing founders and technologies at the bleeding-edge in agriculture. Equally grateful I am to have industry stalwart like OCP Group as a backer. Having UM6P and OCP as sole investors ensures Bidra has the backing of patient capital and access to unparalleled resources”. said Amar Singh, President Bidra Innovation Ventures.Mr Hicham El Habti, President of UM6P and Board Chair of Bidra added: “UM6P is dedicated to research and innovation and brings together a full innovation ecosystem comprised of the best researchers, first-class international academic and innovation partnerships, as well as several laboratories and capabilities to test and improve new technologies. We see Bidra’s partnerships with startups and the agricultural innovation ecosystem at large as key catalysts to achieving our objective to contribute to the transformation of agriculture towards greater sustainability.”The issuer is solely responsible for the content of this announcement. – Published and distributed with permission of Media-Outreach.com.
