Tpp Capital Holdings Launches Urban Agriculture Fund
Investments are aimed at social promotion in slums
The fund will focus on creating sustainable, vertically integrated food businesses in the Black majority neighborhoods of the US.
Tpp Capital Holdings (Tpp), a Philadelphia-based private equity fund manager and urban health and real estate development company dedicated to improving the health of residents in the "Black and Brown" neighborhoods by providing them with access to quality food, has announced the launch of a $ 20 million urban agricultural and food investment fund. The purpose of the fund is to make private equity investments on site, in the agri-food sector, in agriculture, in indoor vertical farms / greenhouses, in the development of agricultural land, in food and beverage companies. The aim is to reduce the gap, in terms of health and health services, existing between the populations of different neighborhoods of the same city.
The fund caters to family offices, high net worth individuals, professional athletes, celebrities, entertainers and institutional investors. It aims to be an attractive means of investment for women and men of color interested in supporting Black majority businesses. “The Tpp Funds have 25 years of experience in the food industry, food science, food ingredients, food processing, food technology, packaging and food marketing. Through partnerships with food ingredient suppliers, food scientists, food companies and CEOs and executives, Tpp is now well positioned to maintain and grow its success", said Clinton Bush, Tpp Capital Holdings principal and co-founder.
To date, Tpp Capital has entered into a $ 2 million investment commitment with Vertical Harvest Lc3, a Jackson farm that has built a profitable sustainable model for urban hydroponic farms. The project favors the production of fresh local food all year round while providing job creation for underemployed populations, with a focus on hiring people with intellectual and physical disabilities. The investment will serve to implement a five-year expansion plan to build 10 new 70,000-square-foot greenhouses, produce over 10 million pounds of products annually and create up to 550 jobs in the United States.
The company has also signed a $ 5M equity investment commitment in Vertical Harvest Philly, to build and operate a 70,000 square foot greenhouse that will pursue Well certification and Well Health Safety Rating. The site will be accompanied by 50 affordable housing units for agricultural workers in the Tioga neighborhood of Upper North Philadelphia, adjacent to Temple University.
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