TMCnet News

FarmTogether x Backstage Capital Join Forces to Generate Greater Access to Diverse Farmland Investments
[May 04, 2021]

FarmTogether x Backstage Capital Join Forces to Generate Greater Access to Diverse Farmland Investments


SAN FRANCISCO, May 4, 2021 /PRNewswire/ -- FarmTogether, the technology-enabled investment platform democratizing access to farmland, today announced a partnership with Backstage Capital, an investment firm focused on startups founded by people of color, women, and members of the LGBTQ community. Through the partnership, the Backstage Capital investor community will have access to exclusive farmland investment properties that capture the two organizations' shared values of diversity, inclusivity, and accessibility.  

"We were drawn to Backstage Capital because of their attention to raw talent in underrepresented and underestimated communities; in many ways, this focus largely overlaps with our investment thesis for farmland," said David Chan, COO of FarmTogether. "As a diverse company whose leadership is majority-represented by persons of color and women, our organizations think alike, and together, we will create shared value."

Each Backstage x FarmTogether offering will be differentiated in a manner that captures the core values of both Backstage and FarmTogether. For example, some of the features of a Backstage-FarmTogether offering may include:

  • The inclusion of people of color, women, and/or LGBTQ+ members as offering parties;
  • Properties located in a pre-defined area of historical significance - examples could include plantation lands, Homestead Acts lands, and other historically or culturally significant land;
  • Properties that fll within Opportunity Zones census tracts as defined by the Tax Cuts and Jobs Act of 2017;
  • Scholarships that are funded through a portion of the rental or operating income generated from the property to be granted to a selected farmworker(s) and/or their children
  • Enhanced access to the asset itself, including greater connectivity to our operating partners, processors, and/or Backstage-only farm tours



"Through partnerships with forward-thinking tech companies like FarmTogether, we're creating the framework that empowers a growing community of investors to catalyze real change in underestimated markets. We're giving more and more people a seat at the investing table," said Arlan Hamilton, Founder and Managing Partner at Backstage Capital. "That's what this is all about."

As an asset class, U.S. farmland boasts a total value of $2.7 trillion. Yet, only around 2% of the dollar value of all farms is financially backed or owned by funds, publicly traded companies, or high-net-worth individuals. This has resulted in a highly fragmented and overlooked market.


FarmTogether utilizes data-driven, proprietary technology to tap into this market and generate greater access to farmland investment opportunities across the country. The company will work with Backstage Capital to take their vision one step further by prioritizing racial, gender, and cultural diversity, and by leveraging these larger, more representative communities to drive greater change.

"With access to the Backstage community, we're enabling a larger number of people to have a say in our food system, climate change, and the general wellbeing and future of humanity. This partnership is key to not only fulfilling our mission to support sustainable and prosperous farming but also to radically democratize farmland investing," said Artem Milinchuk, Founder and CEO of FarmTogether. "We're reaching new investors to create impact through a transformational asset class. I find that incredibly exciting."

About FarmTogether

FarmTogether is a technology-powered, online marketplace that enables individuals to invest in U.S. farmland. The company has developed an end-to-end platform that allows investors to browse carefully vetted farmland investments, review due diligence materials, invest in properties, and sign legal documents, all in a secure online environment. FarmTogether's team and partners are cross-industry professionals with over 70 years of experience across farmland investing, agriculture, and real estate in the U.S. and globally.

About Backstage Capital

Backstage Capital is a venture capital fund that invests in companies led by underrepresented founders. Less than 10% of all venture capital deals go to Women, People of Color, and LGBTQ founders. The VC firm sees this as the biggest opportunity in investment and has invested more than $15 million in 180+ startups to date. Arlan Hamilton, Founder of Backstage Capital, was homeless when she founded Backstage Capital for overlooked entrepreneurs. Looking to the future, the firm aims to contribute to the growing diversity of investors, as well as the diversity of founders.

CONTACT: Rebecca Bauer, rebecca.bauer@farmtogether.com

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/farmtogether-x-backstage-capital-join-forces-to-generate-greater-access-to-diverse-farmland-investments-301282767.html

SOURCE FarmTogether Inc


[ Back To TMCnet.com's Homepage ]