Innova Memphis Announces Close of Ag Innovation Fund IV to Support AgTech Startup Activity

Founded in 2007 by the Memphis Bioworks Foundation, Innova is a pre-seed, seed and early-stage investor focused on starting and funding high-growth companies in the Biosciences, Technology and AgTech fields. Innova links capital with great ideas to create groundbreaking products and services.

Innova’s investment strategy was partially shaped by a change in the venture industry as a whole. Increasingly, traditional venture capital companies focus less on true early-stage investing as the financial risk/reward metrics have shifted in favor of later stage investing. This change in the industry has left a “funding gap” that has made it extremely difficult for startups in their formative stages to have access to venture capital. This lack of seed capital poses a long-term threat to the innovation-based economy and future competitiveness as a whole. Innova invests in early-stage, high-growth companies that have the potential to grow into significant economic contributors. Their focus is on companies with strong intellectual property or other competitive advantages in the Biosciences, Technology and AgTech fields.

Innova has invested over $20M in 75 startups, attracting over $90M of outside capital, for a total annual impact greater than $90M and supporting more than 250 direct jobs.