How do I invest in food? Investing in Farm & Agriculture Technology with Tenacious Ventures

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Nov 30, 2025

Join Sarah Nolet and Matthew Pryor from Tenacious Ventures as they dive into Australia's booming agtech scene. Sarah, a farm-savvy consultant turned investor, and Matthew, a water tech entrepreneur, reveal the vast potential of Australia's agricultural landscape—covering 55% of land. They discuss their unique OCP framework for deal evaluation and how deep tech innovations, like SwarmFarm's robotics and GoTerra's waste solutions, are revolutionizing farming. Discover why small efficiency gains can mean big returns and learn about their exciting projects shaping the future of agtech!

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INSIGHT

OCP Framework Guides Investment Decisions

Tenacious uses an OCP lens: Opportunity, Company, Partnership to evaluate deals.
They assess market size, team/traction, and deal terms before committing capital.

ANECDOTE

Content Feeds Founder Inbound

Tenacious attracts founders through consistent sector content like podcasts and articles.
Founders often contact them months after hearing their material, creating warm inbound deal flow.

INSIGHT

Small Gains Scale Big In Australian Ag

Australian ag is massive: 55% of land in production and ~$3.6T in farmland value.
Small efficiency gains on farms translate into large economic impact due to scale.

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This episode was originally featured on the Australian Investors Podcast.

In this Australian Business Podcast episode, your host Owen Rask chats with Sarah Nolet and Matthew Pryor:

– How big Australia’s ag opportunity really is (55% of land mass in agriculture; ~$3.6t farmland; ~$100b farm-gate output; ~$16b profit)

– Tenacious Ventures’ OCP framework for evaluating deals and portfolio construction (incl. 40/60 follow-on reserves)

– Deep tech over pure software and why “digitally native ag” doesn’t just mean SaaS

– Case studies: SwarmFarm Robotics (robots at scale), GoTerra (decentralised insect waste), Orthodic (lignin-based coating), plus Jupiter Ionics & Embryo

If you love learning about agtech & venture investing, subscribe to the Australian Business Podcast on Apple, Spotify, or YouTube!

Topics Covered

– Australia’s agri-food scale and why small efficiency gains matter for returns

– The OCP (Opportunity–Company–Partnership) lens & portfolio pacing (40% initial, 60% follow-on)

– Sourcing founders via content and a tight early-stage ecosystem across AU/NZ

– Deep tech in ag: atoms & molecules, pure bits; avoiding the Silicon Valley “over-fund & rush” trap

– SwarmFarm’s path from prototypes to robots per week & 10.5m acres covered

– GoTerra’s decentralised waste “platform” and council use cases

– Orthodic’s wax-replacement coating leveraging existing infrastructure (no capex-heavy plants)

– Fund 1 sizes, typical rounds & who can invest (wholesale/sophisticated)

– Final thoughts on climate resilience, farmer adoption & retaining customers once value is proven

Resources for this episode

⁠Ask a question (select the Business podcast)⁠

⁠Tenacious website⁠

⁠Did Silicon Valley kill AgTech?⁠

⁠Tenacious Portfolio⁠

Rask Resources

Instagram: ⁠@rask.invest⁠

TikTok: ⁠@rask.invest⁠

DISCLAIMER:

This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG):

⁠https://www.rask.com.au/fsg

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