Farmers Business Network℠ Raises $250M Series F Financing
Gunderson Dettmer represented client Farmers Business Network (FBNSM), the leading direct-to-farm ag tech platform and farmer network, in its $250 million Series F financing led by funds and accounts managed by BlackRock Inc., with participation from new investors Baron Capital Group, Balyasny Asset Management LP, Mandi Ventures, Lupa Systems and Ron Shaich. Existing investors DBL Partners, Temasek, funds and accounts advised by T. Rowe Price Associates, Inc., GV, Expanding Capital, and Kleiner Perkins also took part in the funding.
In the announcement of the transaction co-founder and CEO of FBN Amol Deshpande said, “Our mission as a company is to improve the profitability of farming families around the world for generations to come. Many farmers and ranchers were already struggling before the disruption and financial challenges brought on by the pandemic. We will double down on putting farmers first by further investing in technologies that lower costs, improve transparency and create local community development opportunities in rural areas.”
The Gunderson deal team was led by Michael Hacker and included Jay Hachigian, Stephen Wheeler and Chris Crawford.