Golden Agri Resources subscribes to a tech investment fund

Its commitment towards the fund will be up to US$125m.

Golden-Agri Resources Ltd has subscribed for a limited partnership interest in a technology investment fund, RMDV Fund I, L.P. through its subsidiary Belino Investments Ltd.

The group's contribution and commitment towards the fund will be up to an aggregate of US$125m by the injection of non-cash assets and cash into the fund.

According to the group, the non-cash contribution will comprise the group's existing technology assets that are mainly held through Achieve Market Holdings Ltd.. The total investment value of these non-cash assets is around US$104.8m. Meanwhile, the cash contribution of US$20.2m will be drawn down progressively over a period of five years.

"GAR's subscription into the Fund is to support the Company's business strategy in achieving its vision by sourcing innovative technologies related to its core businesses," the group said.

Currently, the group is the sole limited partner of the Fund, but it is expected to receive funding from other investors.

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