A Santa-Monica based agricultural technology investment firm backed by some of L.A.’s wealthiest individuals has closed its first fund with $105 million in commitments, the company announced Wednesday.
Pontifax AgTech Management, founded in 2014 by Phil Erlanger and Ben Belldegrun, closed an initial $30 million round for its private equity fund in March 2016. Belldegrun is the son of Santa Monica-based Kite Pharma Inc. founder and Chief Executive Arie Belldegrun.
The initial round’s investors included Stewart Resnick, chief executive of West L.A.’s Wonderful Co. and No. 10 on the Business Journal’s 2017 Wealthiest List with his wife Lynda; Haim Saban, chief executive of Century City’s Saban Capital Group Inc. and No. 14 on the wealthiest list; and Antony Ressler, chief executive of Century City’s Ares Management and the 33rd wealthiest Angeleno.
Retail, restaurants and hospitality reporter Caroline Anderson can be reached at firstname.lastname@example.org. Follow her on Twitter @caroline_mander.
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