New Fund Allows USDA to Facilitate Private Equity Investments in Agriculture
The U.S. Department of Agriculture (USDA) has announced a new fund, the Rural Business Investment Company (RBIC) that will allow the USDA to facilitate private equity investment in agriculture related businesses. Currently there are USDA programs that help provide loans or guarantees to help businesses grow, however new, innovative businesses also need equity in addition to, or in place of borrowing. Advantage Capital Partners will manage the new fund and their partners of eight Farm Credit System institutions have pledged to invest approximately $150 million to the fund. The fund was formed under the USDA’s Rural Business Investment Program. Working through the program enables licensed funds to raise capital from Farm Credit System Banks and associates.
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