Rural Community Development

In addition to its core lending business, CoBank is an investor in equity funds that promote job creation and economic development in rural communities, including a number of funds formed under the auspices of the U.S. Department of Agriculture’s Rural Business Investment Program.

CoBank investments

Fund Fund Size
($ millions)
Established Investment Focus Target Geography
Midwest Growth Partners I $  41.2 2013 Diversified Industries Upper Midwest
Advantage Capital Agribusiness Partners 154.5 2014 Agribusiness National
Innova Ag Innovation Fund 31.3 2016 Venture Capital AgTech National
Open Prairie Rural Opportunities Fund 81.0 2017 Agribusiness National
Midwest Growth Partners II 113.5 2018 Agribusiness & Infrastructure Midwest/National
Blue Highway Growth Capital Fund 41.8 2019 Diversified Industries Northeast/Mid-Atlantic
Pharos Capital Partners IV-A 202.0 2019 Rural Healthcare National
Lewis & Clark RBIC Fund II 88.0 2019 Agribusiness Midwest
Rural American Fund RBIC III 41.8 2020 Agribusiness National
Azalea Capital RBIC Fund 76.0 2020 Diversified Industries Southeast
AGR Partners RBIC Fund 85.8 2022 Agribusiness National
Total 956.9  
CoBank invests in equity funds that enhance the flow of capital to rural businesses.