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NFU unveils Farmers Capital Fund
A new investment fund is aimed at boosting technological advancements in agriculture.
National Farmers Union (NFU) president Rob Larew says the Farmers Capital Fund is an investment into the organization’s members.
“Having a capital fund that is both going to be investing in technology and products that will benefit our members.” He says, “It also has the added benefit of very positive returns to the organization.”
Jim Schultz with Illinois-based Open Prairie, which will manage the $25 million fund, says NFU members will also see tangible benefits from the partnership.
“Our standard deal includes additional stock that we’ll have available for the farmer that will go to them.” He says, “As an example, say it’s a new biologic that’s put on the field. We ask them to put it on ten of their acres. They might get $5,000 of stock as part of their compensation.”
Schultz says the Farmers Capital Fund is in the process of securing additional investors but has already closed an agreement with a biological company and is near a deal with a robotic tractor company, among others.
NFU announced the Fund during its 123rd annual National Farmers Union Convention in Oklahoma City.
AUDIO: Rob Larew & Jim Schultz
