The firm's first two funds have almost raised a combined $250m from family offices and will invest in Norwegian ag and energy companies before exporting them to South-East Asia.
Three LPs have confirmed to Agri Investor they have made commitments totaling a combined $350m to a fund that launched in December.
A market source says family offices are likely to be the source for much of the capital raised for the St Louis-headquartered firm's AgriFood Fund II.
Founder John Farris said the direct investment platform has already secured three commitments, including one from a large Asian institution.
The fund will make investments ranging between $10-$50 million in farmland growing fresh fruit, vegetables and nuts.
Chief executive Perry Vieth says LPs in the targeted $25m first close for Ceres Sustainable Food and Agriculture Opportunity Fund II will be offered reduced management and incentive fees.
Perfect Day uses fermentation to create animal-free dairy products such as cheese and ice cream to overcome dietary and sustainability challenges.
AAM managing director Garry Edwards said that investors were looking for experienced managers with a strong record in agriculture, which has been “difficult to access” for some investors.
The Swiss impact asset manager said closure of the Fair Agriculture Fund did not reflect any change in investor demand for exposure to the vehicle, which had invested more than $1bn across 52 countries since 2011.
Lighthouse Finance managing director Howard Tang says the fund will largely look to help finance critical operating equipment for established seafood companies.