ACAP investment shows impact of RBIC program
Hortau Corp., California-based leader in precision irrigation management systems, has secured $5 million in financing from Advantage Capital Agribusiness Partners, LP (ACAP). You might be asking a logical question: “Why should I care?” ACAP was the second Rural Business Investment Company (RBIC) approved by the U.S. Department of Agriculture and the first since Meritus Ventures won the inaugural designation nearly a decade ago. More recently, we reported that Meritus, in partnership with Kirchner, and Innova Memphis had won designations three and four and are now raising funds. This is a really important program for rural communities.