News summary: 600 decares of agricultural land readied to produce asparagus.
Ankara: Sparga2, which has launched share-based crowdfunding to produce Turkish asparagus in 600 decares (150 acres) of agricultural land in Turkey, has raised 41.604 million Turkish Lira ( TL) as a result of a five-day investment round. Sparga2, the second project of fonTAR, developed by fonbulucu as a first in Turkey in financing agricultural production, had requested 39 Million TL through the offering of 70% of the company shares to investors in the investment round. As a result of the campaign, Sparga2, which exceeded its demand by 106.7%, with 3,684 investors buying shares, became the venture that received the most investment from the most investors in the Turkish crowdfunding system.
Sparga2, the agriculture initiative of crowdfunding platform fonbulucu, completed its equity crowdfunding round with two records. It was announced that 70% of Sparga2 Tarım A.Ş. shares would be offered and the targeted fund amount was announced as 39 million TL. As a result of the campaign, which did not include bonus shares and privileged shares, the venture company received a total investment of 41. 604 million TL.
With a 600 decare area of asparagus production target, the planting process is planned to start in June 2023. According to the statement from Sparga2, at this point, the first two years will enter the facility process and the foundations of asparagus production will be laid. The first harvest is planned to be taken in the third year, while the first dividend will be distributed at the end of the third year. Starting from the fourth year, dividend rates will increase with the amount of harvest. In the fifth year, the highest production capacity will be reached and dividends will increase at the same rate. The company will distribute maximum dividends in the seven-year period from the fifth to the 12th year, and will be liquidated at the end of 12 years of investment, production and sales.
Sparga1 started the production attack on 412 decares (103 acres) of land. Sparga1, the first project of fonTAR, started its crowdfunding round on fonbulucu in September 2022 and received 400% of funding in the 10 days it was in operation The initiative, which received 16 million TL of pre-solicitation against a demand of 4 million TL, was incorporated after this successful funding and went to the second investment round for production with a funding target of 16 million TL. During the 15-day second campaign, 1,595 of the 1,868 investors who participated in the first round supported the project in the second round, raising 119% of funds, above its 16 million TL target. With this performance, the initiative raised a total of 19 million 49 thousand TL. Sparga1 Tarım A.Ş., which was established, started to work to start the production phase on an area of 412 decares in May 2023 with the funds transferred.
The target is to start export-oriented asparagus production on an area of four thousand decares.
Source: Tarimpusulasi.com