2021 Market Review and the Implications for Food and Ag Investing

2021 saw a series of seminal events that have resulted in structural changes to capital markets. The parallel crises of Covid-19 and climate change have shifted perspectives and priorities, and as a result, we are witnessing market events not seen in our lifetimes.

The rise of ESG, unprecedented funding for tough tech innovation and an uneven recovery from the pandemic are all having consequences for public and private markets. The intention of this report is to explore market events and data from 2021 to better understand the implications for agrifoodtech innovation and investment as we head into 2022.

To that end, the report covers three sections. The first dives into the macroeconomic environment, describes potential bull and bear scenarios for 2022 and the implications for venture capital. The second part examines the state of private markets and specifically the rise of climate tech. The last section expands on three core predictions for 2022 based on all the macroeconomic and private market trends from 2021 that will have continued impact into the new year. We then wrap up with some reflections from our Managing Directors on their key takeaways from this year.