Social venture fund invests in Nicaraguan biotech industry

Agora Venture Fund, which supports social entrepreneurs in developing countries, has announced an investment in Grupo Bioscientifica, which will contribute to the development of a biotech industry in Nicaragua. Grupo Bioscientifica identifies, sources, cultivates and processes botanical material for use in cosmetics, pharmaceuticals and nutritional supplements worldwide while promoting sustainable agricultural practices and responsible manufacturing processes. Grupo sources materials from small farmers in Nicaragua, paying premium prices for their crops. It will also help develop a biotech industry, creating high-quality, new jobs for laboratory work and providing opportunities for scientific advancement in Central America. The size and nature of the investment have not been divulged.

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