Unigrains raises €55m

The France- and Italy-based firm closes its Italian agribusiness fund above target.

Unigrains held a final close of Fondo Agroalimentare Italiano (FAI) with €55 million ($61 million) in committed capital, above the fund’s €50 million target.

The fund invests in minority stakes in the agri-food sector in Italy, generally targeting SMEs with sales between €10 and €150 million with growth capital or buyout transactions. FAI has invested in six businesses to date and expects to make three-to-four more.

Commitments to the fund come from institutional investors and family offices in France, Italy and Switzerland, and from Italian business owners.