In this Australian Investors Podcast episode, your host Owen Rask chats with Sarah Nolet and Matthew Pryor:

– How big Australia’s ag opportunity really is (55% of land mass in agriculture; ~$3.6t farmland; ~$100b farm-gate output; ~$16b profit)

– Tenacious Ventures’ OCP framework for evaluating deals and portfolio construction (incl. 40/60 follow-on reserves)

– Deep tech over pure software and why “digitally native ag” doesn’t just mean SaaS

– Case studies: SwarmFarm Robotics (robots at scale), GoTerra (decentralised insect waste), Orthodic (lignin-based coating), plus Jupiter Ionics & Embryo

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Topics Covered

– Australia’s agri-food scale and why small efficiency gains matter for returns

– The OCP (Opportunity–Company–Partnership) lens & portfolio pacing (40% initial, 60% follow-on)

– Sourcing founders via content and a tight early-stage ecosystem across AU/NZ

– Deep tech in ag: atoms & molecules, pure bits; avoiding the Silicon Valley “over-fund & rush” trap

– SwarmFarm’s path from prototypes to robots per week & 10.5m acres covered

– GoTerra’s decentralised waste “platform” and council use cases

– Orthodic’s wax-replacement coating leveraging existing infrastructure (no capex-heavy plants)

– Fund 1 sizes, typical rounds & who can invest (wholesale/sophisticated)

– Final thoughts on climate resilience, farmer adoption & retaining customers once value is proven

Resources for this episode

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Tenacious website

Did Silicon Valley kill AgTech?

Tenacious Portfolio

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Rask Resources

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Financial Planning

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This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG):

https://www.rask.com.au/fsg

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