Fenwick & West LLP advised Fidelity Management & Research Company on the deal.
Fidelity Management & Research Company LLC, the investment advisor to Fidelity’s family of mutual funds, led a $300 million investment round in Bowery Farming, a vertical farming company in the United States.
Existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek and Groupe Artémis (Pinault-owned) provided significant follow-on investment, along with new investors Amplo and Gaingels, a fund representing the LGBTQ community and allies. Additional individual investors in the round included plant-based eating advocates like Lewis Hamilton, Chris Paul, and Natalie Portman, as well as world-renowned chef and hunger advocate José Andrés and singer-songwriter Justin Timberlake.
Bowery will use the funds to continue expansion of its network of smart indoor farms across the U.S., to further accelerate its technological leadership, support ongoing research and product innovation efforts to bring crops beyond leafy greens to market and recruit top talent to meet the explosive consumer and retail demand for its reliable supply of pesticide-free Protected Produce.
The Fenwick transaction team was led by corporate partner Michael Brown (Picture) and included corporate associates Ari Haber and Jing Xu; and technology transactions partner Jonathan Millard and associate Mona Fang.
Law Firms: Fenwick & West LLP;
Clients: Fidelity Management & Research Company;