A world leader in agrifood innovation will make Melbourne its base for its Australian and New Zealand headquarters and allow opportunities via a propriety platform.
The SVG THRIVE Australia Venture and Innovation Platform will allow farmers to have access to more technology, while Victorian agricultural startups will have greater opportunities to take their products overseas.
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A $50 million venture fund that will facilitate continued international investment in the agtech sector will also be established by SVG.
Chief executive of SVG Ventures John Hartnett said the company was looking forward to establishing their new base.
"We are excited to embark on our ANZ journey from Victoria - a large agricultural market, home to world-leading research organisations and a central location to capture agtech success," Mr Hartnett said.
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The proprietary platform comprises an accelerator program, a corporate innovation program and will establish a number of development programs and events to Victoria.
SVG also plans to partner with La Trobe University's Australian Food Innovation Centre and will bring their new annual THRIVE Australia Innovation and Investment Summit.
Economic development minister Tim Pallas was in Silicon Valley this past weekend to seal the deal with the platform.
He said the deal will give farmers more opportunities to explore innovative ways to utilise their land.
"This is a significant vote of confidence in Victorian agtech and the payoff will be in jobs now and in the future," Mr Pallas said.
"It will provide a major boost for the innovators developing new products and processes to transform agriculture in Victoria and around the world."
