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12. JD Vance funded AcreTrader. Here's why that matters

18 September 2024

Some of the most pristine farmland in California can be yours, at least by proxy, in just a matter of minutes. That’s the promise that AcreTrader, a company with the mission of simplifying investing in valuable U.S. farmland, makes to prospective financiers.

Its current offerings include 83 acres of almond trees in the San Joaquin Valley, advertised as “an opportunity to invest in a water-secure almond orchard in the world’s most productive almond-producing region.” This property also boasts of senior water rights on the Kings River, suggesting that the land will continue to turn a profit long into the future—a dream of farmers and investors alike.

AcreTrader is just one of many companies launched in the past decade that facilitate the sale of farmland, which has increasingly become a staple in investor portfolios. Recently, it was revealed that this includes the investment portfolio of vice presidential nominee JD Vance, the Republican senator from Ohio.

Vance invested up to $65,000 in private investments in AcreTrader during his stint as a venture capitalist, according to his 2022 financial disclosure to the Senate ethics committee. The investment firm Narya Capital—which Vance launched in 2020 with backing from PayPal co-founder Peter Thiel—was a vehicle for these investments, and a key backer in early funding rounds of the farmland startup. And while Vance is no longer listed as a partner at Narya Capital, according to his 2023 financial disclosure, he appears to still be an investor in the firm—or more technically, multiple legal entities with names including Narya.
“There’s no indication that Vance has divested from AcreTrader, and there’s every indication that that investment remains in place,” said Lisa Graves, the executive director of True North Research, an investigative research group. She points to how Vance sold off his stock in “Narya Capital Management LLC” in 2023, but that’s not the same as the (albeit similarly named) investment vehicles used to invest in AcreTrader.
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https://www.farmlandgrab.org/post/32430-jd-vance-funded-acretrader-here-s-why-that-matters