The rapidly expanding agricultural technology (agtech) sector is attracting the attention of investors.

With a growing global population – and pressures on land use – innovation and technology are being harnessed to develop sustainable food production systems.

Vertical farming is a growing trend, with facilities including unused city buildings and shipping containers being transformed into modern day agricultural centres. The tech inside these facilities make it possible for fruit and veg to be grown without sunlight. There are even a growing number of restaurants growing vegetables in vertical farms situated inside their premises.

Investment platform, Pontifax AgTech Management, announced this week the close of its first fund, the Pontifax Global Food and Agriculture Technology Fund, with $105 million raised. Serious investors, investment firms and financial institutions are some of those who have signed up.

Phil Erlanger, Co-Founder and Managing Partner of Pontifax AgTech, said: “Food demand is increasing dramatically, with global population trending to 10 billion by 2050 and increasing per-capita consumption. In contrast, the agriculture supply chain is confronted by declining resources and increasing sustainability pressures. Significant innovation is critical to address these market dynamics. We see numerous opportunities to invest in disruptive technologies which add value to the agricultural supply chain. We are excited to play an instrumental role in supporting the growth of disruptive AgTech businesses which improve one of the largest and most important industries in the world.”