BrightFarms, Inc., an urban agriculture company, recently announced the closing of an oversubscribed $2.4 million .jpg)
tranche of financing, resulting in a total Series B financing of $7.4 million.
tranche of financing, resulting in a total Series B financing of $7.4 million.The tranche was led by WP Global Partners LLC, a private equity firm with over $2 billion in assets under management. The financing, which also includes participation by investors NGEN Partners, Emil Capital Partners, BrightFarms founder Ted Caplow, and several other prominent investors, coincides with BrightFarms’ announcement that Gregory S. Oberholtzer, senior managing director at WP Global, has joined BrightFarms’ board.
BrightFarms aims to be the country’s first national brand of locally grown produce. BrightFarms has more than $100 million in backlogged projects, close to $20 million in capital raised to date, and its first 1.3 acre prototype farm successfully operating and selling under the industry’s first Produce Purchase Agreements.
For more info, visit the BrightFarms website.
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