Farmers Business Network Raises Series G Round
Posted on 11/18/2021
Farmers Business Network, also known as FBN, is a global farmer-to-farmer network and agriculture tech company. Farmers Business Network raised US$ 300 million in a Series G funding round that was led by Fidelity Management & Research Company LLC. Other investors include LN Mittal Family Office, ADM Ventures Investment Corporation (part of Archer-Daniels-Midland Company), venture capital firm Colle Capital Partners, Walleye Capital, and Tudor Investment Corporation.
The financing included existing investors, funds and accounts managed by BlackRock, certain funds managed by Fidelity Investments Canada ULC, Temasek Holdings, funds and accounts advised by T. Rowe Price Associates, Inc., GV (part of Alphabet), Baron Capital Group, DBL Partners, and BAM Elevate.
FBN will use the capital for general corporate and working capital purposes and help grow FBN Direct and FBN Financial platforms.
The LN Mittal Family Office manages the wealth of Lakshmi Niwas Mittal, an Indian steel magnate.