The Production Board
| Company type | Private |
|---|---|
| Industry | Venture foundry |
| Founded | 2016 |
| Founder | David Friedberg |
| Headquarters | , |
Key people | David Friedberg (founder and chief executive officer) |
The Production Board is a venture foundry and investment holding company headquartered in San Francisco, California. Entrepreneur David Friedberg founded the firm in 2016 to create and finance businesses in food, agriculture, biomanufacturing, and life sciences.[1] The Production Board has backed companies including Lavoro, Triplebar, Culture Biosciences, Pattern Ag, Cana Technology, and Ohalo Genetics, and it sponsored a special purpose acquisition company.[2][3][4][5][6]
History
David Friedberg launched The Production Board in 2016 after leading weather analytics company The Climate Corporation. The firm set out to form and fund companies that reduce cost, energy, time, and carbon output in food production and biomanufacturing. It describes itself as a company builder that partners with scientists and operators and that supplies early capital and shared services.[1]
The Production Board operates as a holding company that builds, invests in, and scales operating businesses. The firm creates or funds companies with a technical core and provides recruiting, finance, and commercial support through a centralized team. It prioritizes projects that pursue significant performance improvements for incumbent processes in food, agriculture, and biomanufacturing.[1][6]
Sponsorship of TPB Acquisition Corporation I
The Production Board sponsored TPB Acquisition Corporation I in February 2021 through a wholly owned subsidiary. The S-1 filing described agriculture, food, and life sciences as target sectors and highlighted the firm's sector expertise.[6]
In September 2022 Brazilian agricultural retailer Lavoro announced a merger with the SPAC. Reuters reported a $1.2 billion valuation for the combined company and noted The Production Board's $100 million commitment through a concurrent private placement. The business combination closed in February 2023, and Lavoro began trading on Nasdaq under the ticker LVRO.[2][7][8]
Portfolio and incubations
Lavoro
Lavoro is an agricultural inputs retailer in Latin America. The Production Board sponsored the SPAC that combined with Lavoro and committed a $100 million private placement at closing. Reuters reported expected cash proceeds of $225 million, subject to redemptions, and the closing took place in February 2023.[2]
Triplebar
Triplebar is a biotechnology company that develops high throughput platforms for designing and screening biological products. AgFunderNews reported a $20 million financing in October 2023 to expand Triplebar's biomanufacturing optimization technology and described a focus on protein design for food and health applications.[3]
Culture Biosciences
Culture Biosciences operates automated bioreactor facilities and software for process development. Business Wire reported in October 2021 that Culture raised an $80 million Series B led by Northpond Ventures and that existing investors included The Production Board and Verily Life Sciences. The company provides capacity and tooling for organizations that develop and scale fermentation processes.[4]
Pattern Ag
Pattern Ag is a predictive agronomy company that analyzes soil microbiomes to guide crop management decisions. Venture coverage has listed The Production Board as an investor in Pattern Ag through firm materials and deal reporting.[1]
Cana Technology
Cana Technology built a molecular beverage system that aimed to produce flavored drinks from a small set of cartridges. FoodBev Media reported in May 2023 that Cana shut down after failing to secure additional funding. G2 Capital Advisors later disclosed an assignment for the benefit of creditors process to sell assets and wind down the business.[5][9]
Ohalo Genetics
Ohalo Genetics develops a plant breeding method that seeks to transmit full parental genomes to offspring. AgFunderNews describes Ohalo as a Production Board incubation with programs in strawberries and potatoes.[1]
References
- ^ a b c d e Burwood-Taylor, Louisa (February 21, 2019). "The Production Board Revealed, Founder of Agtech's First Unicorn David Friedberg Shares Portfolio". AgFunderNews. Retrieved October 9, 2025.
- ^ a b c "Brazil's Lavoro to list in U.S. through $1.2 bln SPAC deal". Reuters. September 15, 2022. Retrieved October 9, 2025.
- ^ a b Watson, Elaine (October 30, 2023). "Triplebar bags $20m to expand bioproduct design engine". AgFunderNews. Retrieved October 9, 2025.
- ^ a b "Culture Biosciences Raises $80M Series B to Tackle Demand for Large-Scale Biomanufacturing". Business Wire (Press release). October 14, 2021. Retrieved October 9, 2025.
- ^ a b "Molecular beverage printer start-up Cana Technology shuts down". FoodBev Media. May 19, 2023. Retrieved October 9, 2025.
- ^ a b c "TPB Acquisition Corporation I, Form S-1". U.S. Securities and Exchange Commission. February 19, 2021. Retrieved October 9, 2025.
- ^ "Lavoro and TPB Acquisition Corporation I Announce Completion of Business Combination". Business Wire (Press release). February 28, 2023. Retrieved October 9, 2025.
- ^ "TPB Acquisition Corporation I and Lavoro, effectiveness of registration statement and shareholder meeting". Lavoro. February 2, 2023. Retrieved October 9, 2025.
- ^ "The assets of Cana Technology, a portfolio company of TPB, have been acquired in an ABC sale process". G2 Capital Advisors. January 31, 2024. Retrieved October 9, 2025.