Open Prairie Has Started Another Private Equity Fund

Open Prairie has announced that its newest growth-stage private equity fund, the Open Prairie Rural Opportunities Fund, L.P., has received a license from the United States Department of Agriculture (USDA) to operate as a Rural Business Investment Company (RBIC). In conjunction with its licensure, the fund has also completed a first closing with strategic partner commitments of over $55 million from lead investors comprised of institutions within the Farm Credit System, commercial and community banks, family offices, farm organizations and individuals passionate about advancing agriculture and growth throughout rural America.

Open Prairie Founder and Managing Partner, Jim Schultz, stated, "Open Prairie has worked closely with its lead investors to establish the Open Prairie Rural Opportunities Fund as an investment vehicle uniquely positioned to capitalize on the challenges facing today's agriculture environment." The Open Prairie Rural Opportunities Fund is a balanced private equity fund offering debt and equity capital to growth and later-stage companies across the agribusiness value chain.

"Compeer Financial, along with our Farm Credit Associations and partners, is committed to growth of agribusinesses, jobs and new innovations in agriculture and rural America. We're excited to partner with Open Prairie, 11 banking institutions and other investor partners to provide leadership, expertise and expand rural networks through the USDA's Rural Business Investment Program," explained Compeer Financial's Chief Mission and Marketing Officer, John Monson.

Open Prairie has headquarters in Effingham.