AgDevCo, an African agriculture investor, has secured $32 million from the UK’s Foreign, Commonwealth, and Development Office (FCDO) to launch "AgDevCo Ventures." The new fund, announced September 4, will support early-stage agribusinesses, focusing on investments between $1 million and $3 million to address the "missing middle" often overlooked due to perceived risks.

The venture aims to boost job creation, increase smallholder farmer incomes, and enhance climate resilience. A key focus will be on African and female-owned businesses, managed by a dedicated team based in Nairobi.