AeroFarms Raises Equity and Refinances Debt to Support Operations
August 11, 2025 
AeroFarms' vertical farming facility in Danville, Va. | Photo: AeroFarms
AeroFarms, a vertical farming company and leading supplier of microgreens in the U.S. retail market, has refinanced its debt to support ongoing operations at its farm in Danville, Va., and raised equity financing to further support existing operations and fund pre-construction activities for an expansion to its second farm.
Equity was provided by existing investors including Grosvenor Food & AgTech (GFA), Ingka Investments, Cibus Capital, and ACEG, and others.
“We believe AeroFarms can play a significant role in the global fresh food supply chain by providing nutritious greens at scale to local regions around the world,” says Stephan Dolezalek, managing partner of GFA. “AeroFarms has now proven the ability to deliver the transformative benefits of vertical farming through a viable, profitable business. To support these efforts, GFA, along with our investing partners, committed funding to support existing operations and enable the company to embark on its next phase of growth.”
An asset-based loan provided by Siguler Guff was used to fully pay off the previous debt facility from Horizon Technology Finance, with additional funds to support ongoing operations at the Danville Farm. The new loan, which closed in May 2025, provides a more favorable interest rate than the previous debt, interest-only terms, and a carve-out for eligible equipment financing.
“We are excited to partner with AeroFarms in Danville to help them reach their full operational capacity,” says Matthew Bernstein, managing director in Siguler Guff’s Credit and Special Situations Strategy. Siguler Guff joined with one of the top USDA Guaranteed lenders in the space to provide interim financing that will bridge the company until a permanent, USDA-guaranteed loan is expected to close later this year.
Waterside Commercial Finance served as the exclusive USDA finance advisor to AeroFarms, leveraging its proprietary Bridge-to-USDA Program to structure the transaction. Waterside originated the opportunity, led the underwriting process, coordinated the bridge loan, and sourced the permanent USDA lender.