Swiss Life Asset Managers, on behalf of its institutional Swiss Life Global Infrastructure Opportunities Growth II fund, has entered into an industrial joint venture with Planet Farms Holding, a controlled-environment agriculture (CEA) infrastructure developer and operator.
Founded in 2018, Planet Farms is a company dedicated to the development and operation of CEA facilities, namely indoor farms. The company grows leafy greens indoors, using no pesticides and 95 percent less water compared to traditional outdoor farming. The company has raised both public and private capital and has successfully developed its first facility in Cirimido, Lombardy, Italy.
As part of the transaction, the fund will provide up to €125 million ($142 million) of growth capital to fund the development and construction of future indoor farming facilities. Planet Farms will contribute a 20,000 square-meter (215,278-square-foot) vertical indoor farm in Cirimido, Lombardy. It
