OCP Group has announced its backing of a new $50 million agritech fund through a partnership with Bidra Innovation Ventures and the Mohammed VI Polytechnic University. The fund will support agricultural technology startups and enterprises working on innovative projects around the world.
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`Slated for April 2022, the recently announced fund will run for five years and will focus on solutions that facilitate access to effective crop inputs, efficient digital services, and stronger market linkages.
More details can be found at https://www.ocpgroup.ma
The announced fund will add to OCP Group’s multi-tiered approach to achieving sustainable agriculture across the globe, which cuts across the areas of scientific research, education, financing, policy influencing, and more. The fund will be managed by San Francisco-based Bidra Innovation Ventures, with backing from OCP Group and the Mohammed VI Polytechnic University (UM6P).
UM6P is one of Morrocco’s premier educational institutions focusing on building leaders through technical and practical learning approaches to research, human sciences, cutting-edge innovation, and enterprise development. As part of the components of the new fund with Bidra Innovation Ventures, UM6P’s resources will provide support to qualifying company founders and project leaders.
The fund will emphasize engaging with promising start-ups that have scalable business models and sustainable long-term prospects in the agricultural technology space. It will also provide a nurturing environment for growth that will foster a more advanced agriculture technology ecosystem.
According to the terms of the partnership, Bidra Innovation Ventures will oversee the fund’s management, including initiation, operations, and investment decisions.
About the Company
Based in Casablanca, Morocco, with a firm presence in Africa, the Middle East, Europe, the Americas, and Asia, the OCP Group is a global leader in phosphate fertilizer development and production. The company’s dedication to sustainable agriculture in Africa and around the world is reflected in its operational strategies and social projects implemented globally, including Bidra Innovation Ventures’ $50 million agritech fund.
President of Bidra Innovation Ventures, Amar Singh, said, “I am thrilled to join Bidra at the most critical time in our industry. I’m thankful for UM6P’s initiative and its conviction in backing founders and technologies at the bleeding edge of agriculture. I am equally grateful to have an industry stalwart like OCP Group as a backer. UM6P and OCP, being sole investors, ensure Bidra has the backing of patient capital and access to unparalleled resources.”
For more information on UM6P, please visit https://um6p.ma
Contact Info:
Name: Dana Adnani
Email: Send Email
Organization: OCP
Address: Headquarters Boulevard Al Abtal BP 5196, Dar-el-Beida, Casablanca-Settat 20000, Morocco
Website: https://www.ocpgroup.ma
Release ID: 89072334
