AguAgro Fund LP has acquired water technology incubator Kinrot Technology Ventures from Canada’s Stern Partners Inc. in a share-swap deal, reports Globes.
Stern Partners, run by president Ronald Stern, will reportedly get a stake in AquAgro, an Israeli venture capital fund focused on innovative water and agriculture technologies, although terms of the deal were not disclosed.
Ministry of Industry, Trade and Labor regulations governing Israel’s Technological Incubators Program require that AquAgro inject at least $3 million into Kinrot over three years.