Agricultural investment firm Packhorse Pastoral Company has raised $62.5 million in its first round of fund raising after looking to institutional investors in May.
Packhorse has a target of $300 million in its first year of operations.
Hyperion Asset Management chair, Tim Samway, was also the chair of Packhorse said: “We are very pleased with the confident response from the investment community to this unique opportunity
“Our mission to build the greatest land custodian, land restoration and beef supply chain business in the world is supported by our new shareholders in the company.
“We have many high-net worth individuals now interested in our next fund raise. We know the expected financial returns generated by our business model are solid, but it’s the additional value of our environmental impact and the potential for carbon sequestration that has captured the attention of investors.”
“Essentially, we’re giving people an opportunity to buy into a business underwritten by high class agricultural assets which will have a positive impact on the climate, our environment and our food supply. Furthermore, an investment will produce regular income from a non-correlated asset class with a long history of consistent capital growth.”
Samway said Packhorse was deploying “sizable” programs to generate carbon credits which had the potential to provide long-term upside for investors.
Packhorse was actively negotiating a pipeline of agricultural properties between Coonamble in New South Wales and Taroom in Queensland ahead of the next round of funding in September 2021.