St. Louis investment firm Lewis & Clark AgriFood expands with new operating partner
ST. LOUIS, MO - November 6, 2020
St. Louis-based investment firm Lewis & Clark AgriFood said Thursday it has added a new operating partner.
The firm named Steve Welker to the role. Welker previously oversaw the global alfalfa seed business for agribusiness and food company Land O’Lakes and before that held roles with DuPont, Monsanto and Solutia. He recently participated in the Distinguished Careers Institute fellowship at Stanford University.
“We’re very excited to welcome Steve as a new operating partner,” said David Taiclet, general partner and managing director of Lewis & Clark AgriFood. “His impressive background in strategic planning for new and traditional businesses as well as commercialization of new products and technologies make him a strong addition to our investment team.”
Launched in 2019, Lewis & Clark AgriFood provides later-stage venture investments and growth capital to agriculture and food companies.
The addition of Welker marks the continued growth of Lewis & Clark AgriFood, which earlier this year added JoAnn Brouillette in the same role. Brouillette is managing partner and president of Demeter LP, an Indiana-based agribusiness, and chair of the National Grain & Feed Association.
Lewis & Clark AgriFood launched as part of Lewis & Clark Partners (LACP), which was created by Tom Hillman, Brian Hopcraft and David Taiclet. LACP also includes local venture capital firm Lewis & Clark Ventures. The firm earlier this year had its first exit and has started to invest from its new AgriFood Fund II and Rural Business Investment Co. funds. It has reported raising a combined $186 million for the two funds, according to regulatory filings. In September, the firm led a $27 million financing for San Francisco-based technology startup Brightseed.
The Lewis & Clark founders developed the agrifood investment arm to expand upon their venture capital firm's expertise in the food and agriculture industries, seeking to develop a broader funding strategy to target the two industries.