Serra Capital II, LP s very pleased to announce the acquisition of 640 Labs by Monsanto’s Climate Corporation on December 5. 640 Labs, a Serra Capital II portfolio company, is an agricultural technology start-up based in Chicago. 640 Labs utilizes the power of analytics, mobile technologies and cloud computing to provide a valuable tool for farmers and ag professionals.
Serra Capital II initially invested in 640 Labs in June 2014 with a second tranche in October. Serra’s internal rate of eturn (IRR) on the investment exceede 500%.
“The 640 Labs team set a vision that we believed in for how the farming community can use data to get real results,” said Rob Schultz, Partner with Serra Capital. “Agriculture Technology is a theme that Serra will continue to invest in. Being in the heart of farming country, we have an advantage over most investors. We are very pleased with the strategic acquisition of the company by Monsanto.”