I’m writing about agricultural technology for Venture Capital Journal and interviewed Kevin Spry, the founder of crop imaging company GeoG2 Solutions. A few key points are excerpted below. If you or one of your portfolio companies is involved in Ag-Bio or Ag-IT, let me know: firstname.lastname@example.org
Alex: Agriculture isn’t something many venture firms look at, but you’ve managed to raise $750,000 from the Halo Fund. What was that like?
Kevin: During the dotcom and even today, there’s this perception among investors that “we’re going to be able to put $50,000 into this, somebody will write a program and it will be Facebook.” When you look at a business that actually has assets, it looks unique. We built a camera system, we have some intellectual property in processing and we have a big-ass airplane. A lot of these investors have been involved in airplanes, using them, but don’t understand that they take a lot of money. I might have been better off telling them that I was going to buy a boat and go fishing.