QIC lands $30m mandate to manage Queensland farming fund

QIC has been awarded a $30 million mandate to manage the Queensland government's Sowing the Seeds of Farming Innovation Fund, targeting early growth stage Agtech ventures across the state.

The fund forms part of the government's broader Prosper 2050 strategy, which aims to future-proof primary industries and lift farm gate productions to $30 billion by 2030.

Deploying capital from seed through to Series B, with selective later- stage investments, the mandate is designed to recognise the funding gap between early stage innovation and backing technologies that deliver measurable productivity gains, climate resilience regional economic benefits.

QIC private equity partner Nicholas Guest said the fund reflects both the scale of opportunity in Queensland's primary industries and the need for commercially disciplined capital to translate innovation into measurable outcomes.

He pointed to the state's diverse production base, spanning cropping, livestock, horticulture, aquaculture and emerging bio-industries as a key enabler of innovation.

"We are already seeing rapid advances in automation, data analytics, biological inputs and climate-smart technologies," Guest said.

"The opportunity now is to accelerate adoption and scale the businesses capable of delivering real productivity gains on farm and across supply chains."

Guest added many promising technologies struggle to secure the growth capital required to move beyond pilot stages, creating a delay in adoption.

"By reserving a portion of capital for follow-on investment and supporting companies from seed through to Series B, we can partner with founders over the long term," he said.

The fund will cover a range of innovation areas, including agri-automation and robotics, digital platforms, climate and sustainability, biomanufacturing and supply chain optimisation technologies.

It will also work alongside research institutions and universities to support a broader agri- innovation pipeline, with eligible investments required to demonstrate clear commercial merit and tangible benefits to the Queensland economy.

QIC brings more than 30 years of experience investing on behalf of the government and institutional clients. Its existing Agtech exposure includes companies such as SwarmFarm robotics and Nbyro which focuses on automation and livestock genetics respectively.

QIC said the mandate underscores growing institutional interest in agricultural innovation as investors look to capitalised on productivity gains and sustainability driven opportunities across the sector.