NEW YORK – The Generation Food Rural Partners Fund, an investment fund designed to boost economic growth in rural communities, will provide financial assistance for Oklahoma Farm Bureau’s accelerator program to invest in start-up companies in Oklahoma, fund officials announced recently.
The investment is the ninth for GFRP, which is managed by Big Idea Ventures, a global investment firm in the food tech, agri-tech and material science sectors.
Capital commitments to the fund by Oklahoma Farm Bureau, Oklahoma Ag Credit, BancFirst and the Oklahoma Center for the Advancement of Science and Technology made the investment possible, officials said.
OCAST will provide matching funds for investments through the partnership.
CoBank, one of the fund’s Farm Credit investors, increased its commitment to the Farm Bureau chose GFRP to facilitate this critical investment partnership.” said Tom Mastrobuoni, chief investment officer for BIV.
“Accessing venture capital investment remains a struggle for start-ups not located on the coasts of the U.S. Our focus on living wage job creation in rural communities is strongly aligned with the mission of the OKFB program.”
OKFB President Moesel said: “Oklahoma Farm Bureau is elated to be a part of the partnership with Big Idea Ventures and Generation Food Rural Partners Fund, Oklahoma Farm Bureau and other committed Oklahoma investment partners. This collaboration will provide capital infusions through an Oklahoma-centric, Oklahoma- guided funding opportunity into the Oklahoma Grassroots Rural & Ag Business Accelerators’ startup companies and other rural businesses we work with across Oklahoma who are creating rural jobs and shaping agricultural innovation.”