Sparga2 Asparagus Production Project, the second project of the fonTAR investment model developed by fonbulucu, as a first in Turkiye in financing agricultural production, was opened for funding. In the funding, where 70% of the company shares of Sparga2 will be offered, the total campaign size was determined as ₺39 million. Asparagus production will be planned on an area of 600 decares, if successful in the investment tour, in which fonTAR Venture Capital Investment Fund participated with ₺5 million in the first stage. The stock offering of Sparga2, which started on March 21, will last for a total of eight days until March 29.
Crowdfunding platform fonbulucu offered to fund Sparga2, the second of its production project developed to make Turkiye a global player in asparagus exports. The targeted fund amount in the funding, in which 70% of Sparga2 Tarim Inc. shares will be offered, was announced as ₺39 million. The campaign, in which additional funding and bonus shares will not be applied and there will be no privileged shares, will continue until 29 March, for eight days in total. As a result of the campaign, it is planned to start the facility period this year, to save one year in dividend payments and to accelerate the transition to production on an area of 600 decares.
Sparga1 was funded with a total of ₺19.49 million
Sparga, the first of the project developed to increase the asparagus production areas to the level of 4 thousand decares in a short time, had a crowdfunding tour on September 1, 2022 and was funded by 400% in the 10 days it was on the air. The startup, which received a preliminary demand of ₺16 million against a demand of ₺4 million, became a company after this successful funding and went on its second investment tour for production purposes with a fund target of ₺16 million. During the second 15-day campaign, 1,595 of the 1,868 investors who participated in the first round supported the project in the second round, and the initiative exceeded its target of ₺16 million by 119%;
Sparga2 Asparagus Production Project, the second project of the fundTAR investment model developed by fonbulucu, as a first in Turkiye in financing agricultural production, was opened for funding. In the funding, where 70% of the company shares of Sparga2 will be offered, the total campaign size was determined as ₺39 million. Asparagus production will be planned on an area of 600 decares, if successful in the investment tour, in which fonTAR Venture Capital Investment Fund participated with ₺5 million in the first stage.
The stock offering of Sparga2, which started on March 21, will last for a total of eight days until March 29. With this performance, my business collected a total of ₺19 million 49 thousand in funds. Established Sparga1 Tarim Inc., with the transferred fund, started to work rapidly in May 2023 to enter the production phase on an area of 412 decares.
The campaign received more than 75% of requests on the second day
Making a statement regarding the process, Sparga2 Chairman of the Board Osman Dagli said, “We presented Sparga2 for funding on March 21, with the success achieved by Sparga1, the first project of the fundTAR investment model, and the proven contract management model. The campaign received more than 75% demand on the second day of its launch, signaling that it would be funded in a very short time. Right after the completion of the tour, we will start the production processes on an area of 600 decares. The first two years will be our facility period and we will lay the foundations of production. We will receive the first harvest in three years and pay the first dividend at the end of the year. As of the fourth year, our harvest amount will increase and our dividend rate will increase. Starting from the fifth year, we will reach the highest productive production capacity and maximize the dividend distribution. In the seven-year period from the fifth to the 12th year, we will realize the maximum dividend distribution. At the end of 12 years of investment, production and sales, we will close and liquidate our company. We sincerely believe that we can easily have a say in this foreign-dependent market by increasing our production areas with our project, which will provide significant added value to both our country’s economy, employment and our stakeholders with its strong export potential.”
“We are getting closer to the target of 4,000 decares day by day”
Talking about the aims of the campaign, the founder and CEO of fonbulucu, Hakan Yildiz, said, “While the consumption of asparagus shows an increasing trend both in the country and abroad, we know that there is a production gap around the world. In addition to being the first valuable project of the fonTAR fund, Sparga is also a good guide for new agricultural projects that we plan to realize in the coming days. Investors who believe in the project are getting closer to their target of 4 thousand decares day by day with this agricultural project, which is carried out with the crowdfunding method. We believe that Turkiye’s logistics advantage will make us a competitive producer in the market of agricultural products with high added value. We want to build a sustainable model that we will gain together by producing these and similar products with high income, healthy and potential.”
Source: Egirisim / Prepared by Irem Yildiz