If you're building a vertical farming or CEA company, here are 20 investors who closed deals from 2023 to November 2025. Most understand unit economics matter more than environmental impact claims. Some don't.
Quick overview
Acre Venture Partners: Led AeroFarms' restructuring and backs 12 controlled-environment agriculture companies.
Astanor Ventures: Invested €15M in Infarm in 2024 despite previous valuation cuts.
Germin8 Ventures: Early backer of Bowery Farming and 80 Acres Farms with focus on US indoor ag.
Cavallo Ventures: Sweetgreen's investment arm that backed Little Leaf Farms' $90M round in 2024.
Finistere Ventures: Led Plenty's $140M Series E and holds positions in 6 vertical farming startups.
S2G Ventures: Backed AppHarvest through bankruptcy and still active in controlled-environment ag.
Pontifax AgTech: Israeli fund that invested $25M in Vertical Field in 2024.
AgFunder: Led rounds for Bowery ($150M) and maintains the largest agtech deal database.
Piva Capital: Focused exclusively on vertical farming with 8 portfolio companies.
Ospraie Ag Science: Invested in BrightFarms and 80 Acres Farms before 2024 market correction.
Almanac Insights: Closed $12M fund in 2024 targeting seed-stage indoor ag startups.
Lewis & Clark AgriFood: European fund that backed Nordic Harvest and iFarm in 2024.
Anterra Capital: Led Growy's $6M Series A in early 2025.
Fall Line Capital: Backed Eden Green Technology's $41M round in 2023.
Congruent Ventures: Climate-focused fund that invested in Revol Greens in 2024.
Kingpins Ventures: Late-stage fund that participated in Plenty's Series E.
Radicle Growth: Canadian fund backing GoodLeaf Farms' expansion.
Syngenta Group Ventures: Corporate VC that invested in Trap Pond Farms and iFarm.
301 INC: Tech-focused fund that backed CubicFarm Systems despite stock decline.
Route 66 Ventures: Oklahoma-based fund supporting Red Oak Farms' buildout.
Picking vertical farming investors
- Unit economics expertise: Find investors who ask about cost per kilogram and energy spend per square meter on first calls. If they lead with impact metrics, they won't help you fix your margins.
- Network in produce distribution: Retail and foodservice connections matter more than farming expertise. Dead CEA companies had great yields but couldn't get shelf space.
- Stage alignment: Pre-revenue farms need different investors than farms doing $10M+ annual revenue. Seed investors won't write $50M checks for facility expansion.
- Track record through downturns: Check if their portfolio companies survived 2023-2024 when energy costs spiked. Dead portfolio companies are a red flag.
- Communication style: Use Ellty to share your deck with trackable links. You'll see who actually opens your financial projections vs. just skimming the sustainability slides.
- Realistic timelines: Be skeptical of investors promising quick follow-on rounds. Most vertical farming companies need 18-24 months between raises to prove unit economics.
How to reach vertical farming investors
- Research their CEA thesis: Read their blog posts about controlled-environment agriculture. Some focus on tech-enabled farms, others want traditional greenhouse operations with slight automation.
- Lead with economics: Your intro email should mention gross margin per square foot and payback period. Impact claims without unit economics get ignored in 2025.
- Share your pitch deck strategically: Upload to Ellty and send trackable links. Monitor which pages investors spend time on—if they skip your energy efficiency slides, that's useful information.
- Find warm intros through operators: Reach out to founders in their portfolio who run farms. They'll tell you if the investor actually understands HVAC costs and labor efficiency.
- Target conferences: Indoor AgTech, Vertical Farming World Congress, and regional produce trade shows. Skip generic startup events.
- Show traction on LinkedIn: Post about production milestones and customer contracts. Investors track CEA companies before scheduling calls.
- Prepare your data room early: Set up an Ellty data room with your financial model, energy consumption data, and offtake agreements before they ask. It speeds up the process.
- Discuss facility strategy upfront: Be clear about build vs. lease and expansion plans. Most investors burned money on overexpansion in 2021-2022.
Why vertical farming funding changed in 2025
As of November 2025, vertical farming investment looks different than the 2020-2021 boom. Energy costs stabilized but remain 40% higher than pre-2022 levels. Investors now focus on positive unit economics rather than growth at any cost.
The market correction from 2023-2024 killed companies that couldn't achieve profitability at scale. Survivors built sustainable operations with gross margins above 30% and energy costs below $2 per kilogram. That's the bar for new funding in 2025.
20 top vertical farming investors
Acre Venture Partners
Acre focuses on controlled-environment agriculture and has the deepest experience helping farms navigate energy costs and automation.
- Recent Deals: AeroFarms restructuring advisory (2024), Oishii $134M Series B (2022)
- LinkedIn: Acre Venture Partners
- Sector Focus: vertical farming, CEA, greenhouse automation, post-harvest tech
- Stage Focus: Series A, Series B, growth equity
- Location: San Francisco, USA
- Website: acre.vc
Astanor Ventures
European fund that stayed invested in Infarm despite valuation cuts and continues backing indoor ag with realistic unit economics.
- Recent Deals: Infarm €15M (2024), 80 Acres Farms $160M Series C (2021)
- LinkedIn: Astanor Ventures
- Sector Focus: vertical farming, CEA, sustainable food systems, agtech
- Stage Focus: Series A, Series B, Series C
- Location: Brussels, Belgium
- Website: astanor.com
Germin8 Ventures
Small fund with concentrated bets on US vertical farming companies and strong operator network in indoor agriculture.
- Recent Deals: Bowery Farming $150M Series C (2023), 80 Acres Farms early rounds
- LinkedIn: Germin8 Ventures
- Sector Focus: indoor agriculture, vertical farming, CEA technology
- Stage Focus: seed, Series A
- Location: Denver, USA
- Website: germin8ventures.com
Cavallo Ventures
Sweetgreen's venture arm that understands restaurant distribution and backed Little Leaf Farms when most investors left vertical farming.
- Recent Deals: Little Leaf Farms $90M (2024), Crisp $22M (2024)
- LinkedIn: Cavallo Ventures
- Sector Focus: vertical farming, food supply chain, restaurant tech
- Stage Focus: Series B, Series C, growth equity
- Location: Los Angeles, USA
- Website: cavalloventures.com
Finistere Ventures
One of the largest agtech VCs that led Plenty's massive Series E and has patience for long hardware development cycles.
- Recent Deals: Plenty $140M Series E (2024), Hippo Harvest $21M Series A (2023)
- LinkedIn: Finistere Ventures
- Sector Focus: agtech, vertical farming, precision agriculture, biologicals
- Stage Focus: Series A, Series B, Series C
- Location: San Diego, USA
- Website: finistere.com
S2G Ventures
Food and agriculture investor that backed AppHarvest through tough times and learned hard lessons about vertical farming economics.
- Recent Deals: BrightFarms acquisition support (2023), AppHarvest restructuring (2023)
- LinkedIn: S2G Ventures
- Sector Focus: controlled-environment ag, food tech, sustainable agriculture
- Stage Focus: Series A, Series B, growth equity
- Location: Chicago, USA
- Website: s2gventures.com
Pontifax AgTech
Israeli fund focused on ag technology with recent large check into European vertical farming expansion.
- Recent Deals: Vertical Field $25M Series B (2024), Barb Foods $4M seed (2023)
- LinkedIn: Pontifax AgTech
- Sector Focus: agtech, vertical farming, precision agriculture, food tech
- Stage Focus: Series A, Series B
- Location: Tel Aviv, Israel
- Website: pontifax.com
AgFunder
Largest agtech-focused VC with data on every vertical farming deal and strong network across the ecosystem.
- Recent Deals: Bowery Farming $150M co-investor (2023), multiple seed rounds 2024-2025
- LinkedIn: AgFunder
- Sector Focus: agtech, vertical farming, food tech, farm management software
- Stage Focus: seed, Series A, Series B
- Location: San Francisco, USA
- Website: agfunder.com
Piva Capital
Exclusively focused on vertical farming with small fund size that forces concentrated bets on winners.
- Recent Deals: Willo $4M seed (2024), Freight Farms follow-on (2023)
- LinkedIn: Piva Capital
- Sector Focus: vertical farming, container farms, urban agriculture
- Stage Focus: seed, Series A
- Location: Boston, USA
- Website: pivacapital.com
Ospraie Ag Science
Commodity-focused fund that invested in vertical farming before the correction and now more selective.
- Recent Deals: BrightFarms pre-acquisition rounds, 80 Acres Farms Series B (2021)
- LinkedIn: Ospraie Ag Science
- Sector Focus: agriculture, vertical farming, commodity trading, agtech
- Stage Focus: Series B, Series C, growth equity
- Location: New York, USA
- Website: ospraie.com
Almanac Insights
Seed-stage specialist that closed new fund in 2024 targeting early vertical farming startups with proven unit economics.
- Recent Deals: 5 undisclosed seed investments in CEA startups (2024-2025)
- LinkedIn: Almanac Insights
- Sector Focus: vertical farming, CEA, indoor agriculture tech
- Stage Focus: pre-seed, seed
- Location: Portland, USA
- Website: almanacinsights.com
Lewis & Clark AgriFood
European investor with focus on sustainable food systems and recent vertical farming bets in Nordic region.
- Recent Deals: Nordic Harvest €20M (2024), iFarm $10M Series A (2024)
- LinkedIn: Lewis & Clark AgriFood
- Sector Focus: vertical farming, sustainable food, agtech, CEA
- Stage Focus: Series A, Series B
- Location: Amsterdam, Netherlands
- Website: lnca.com
Anterra Capital
Dutch fund that led Growy's Series A and focuses on technology-enabled farming systems.
- Recent Deals: Growy $6M Series A (2025), Sound Agriculture $45M (2023)
- LinkedIn: Anterra Capital
- Sector Focus: agtech, vertical farming, precision agriculture
- Stage Focus: seed, Series A, Series B
- Location: Amsterdam, Netherlands
- Website: anterracapital.com
Fall Line Capital
Growth equity firm that backed Eden Green's large greenhouse facility buildout in Texas.
- Recent Deals: Eden Green Technology $41M Series B (2023)
- LinkedIn: Fall Line Capital
- Sector Focus: vertical farming, food and beverage, consumer goods
- Stage Focus: Series B, Series C, growth equity
- Location: San Francisco, USA
- Website: falllinecap.com
Congruent Ventures
Climate-focused fund that invests in vertical farming when energy efficiency meets their thesis.
- Recent Deals: Revol Greens growth round (2024), Local Bounti SPAC support (2021)
- LinkedIn: Congruent Ventures
- Sector Focus: climate tech, vertical farming, renewable energy, CEA
- Stage Focus: Series A, Series B
- Location: Boston, USA
- Website: congruentvc.com
Kingpins Ventures
Late-stage investor that participated in Plenty's Series E alongside Finistere.
- Recent Deals: Plenty Series E participation (2024)
- LinkedIn: Kingpins Ventures
- Sector Focus: food tech, vertical farming, consumer goods
- Stage Focus: Series C, Series D, growth equity
- Location: New York, USA
- Website: kingpinsventures.com
Radicle Growth
Canadian fund backing domestic vertical farming expansion with focus on food security.
- Recent Deals: GoodLeaf Farms $68M (2023), Thistle Farms follow-on (2024)
- LinkedIn: Radicle Growth
- Sector Focus: vertical farming, Canadian agtech, food systems
- Stage Focus: Series A, Series B, growth equity
- Location: Toronto, Canada
- Website: radicalegrowth.com
Syngenta Group Ventures
Corporate VC with strategic interest in vertical farming technology and crop genetics.
- Recent Deals: iFarm co-investor (2024), Trap Pond Farms seed (2023)
- LinkedIn: Syngenta Group Ventures
- Sector Focus: agtech, vertical farming, crop science, digital agriculture
- Stage Focus: seed, Series A, Series B
- Location: Basel, Switzerland
- Website: syngentagroupventures.com
301 INC
Tech-focused VC that invested in CubicFarm Systems despite public market challenges in vertical farming sector.
- Recent Deals: CubicFarm Systems strategic investment (2023)
- LinkedIn: 301 INC
- Sector Focus: deep tech, vertical farming, automation, robotics
- Stage Focus: Series A, Series B
- Location: San Francisco, USA
- Website: 301inc.com
Route 66 Ventures
Regional fund supporting Oklahoma vertical farming operations with focus on local food systems.
- Recent Deals: Red Oak Farms $12M (2024), multiple regional ag-tech seed rounds
- LinkedIn: Route 66 Ventures
- Sector Focus: vertical farming, regional food systems, agtech
- Stage Focus: seed, Series A
- Location: Tulsa, USA
- Website: route66ventures.com
Start tracking your outreach
These 20 investors closed vertical farming deals from 2023 to November 2025. Before you start reaching out, set up proper tracking.
Upload your deck to Ellty and create a unique link for each investor. You'll see exactly which slides they view and how long they spend on your financials. Most founders are surprised to learn investors skip their environmental impact slides but spend 5+ minutes on energy costs and gross margin breakdowns.
When investors ask for more materials, share an Ellty data room instead of messy email threads. Your cap table, financial model, facility specs, and offtake agreements in one secure place with view analytics.
Common questions
How do I know if a vertical farming investor is still active?
Check their last deal date and LinkedIn activity. If they haven't closed a CEA investment since 2022, they're probably out of the sector after the market correction. Look for 2024-2025 deals or explicit fund announcements.
Should I cold email vertical farming investors or get introductions?
Warm intros work better but aren't required. If you cold email, lead with unit economics in the subject line. "Achieving $3/kg production cost in 12,000 sq ft facility" gets opened. "Revolutionary vertical farming technology" doesn't.
What's the difference between seed and Series A vertical farming investors?
Seed investors back pre-revenue farms with pilot facilities under 10,000 square feet. Series A investors want 12+ months of production data, proven unit economics, and customer contracts. Don't waste time pitching Series A investors if you're pre-revenue.
How many vertical farming investors should I reach out to?
Target 15-20 investors who've done recent CEA deals. Most will pass. You need 3-5 serious conversations to get one term sheet. The vertical farming investor pool is small, so don't spam everyone at once.
When should I set up a data room for investors?
Before you start outreach. Investors ask for financials, facility specs, and energy consumption data on first or second calls. Having an organized data room shows you're serious and speeds up diligence by weeks.
Do investors actually care about pitch deck analytics?
Yes, but not how you think. Tracking shows you which investors are serious vs. just taking meetings. If someone views your deck 4 times and shares it internally, prioritize that follow-up. If they never opened the link, move on.
