Source Agriculture
Source Agriculture, now Source Agriventures Inc., is a United States farmland and agriculture-technology investment company that buys American farmland and backs ag-tech that keeps it productive, climate-resilient, and water-efficient. Water is a thin slice of that mandate: the one water company (don't) Waste Water tracks is Hydrosat, a thermal-satellite firm Source backed at its 2025 Series B.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Source Agriculture started life as a farmland real-estate play: a company buying productive American farmland and leasing it back to the people who work it. In August 2025 it renamed itself Source Agriventures Inc. to signal a wider remit, adding ag-tech, renewable energy, and carbon credits on top of the land. Founder Vare Grewal came up through Canadian capital markets and ran the family farm operator Grewal Agriculture; chief executive Roop Mundi, a former securities lawyer, was raised on a farm in eastern Ontario.
Source Agriculture is, first and foremost, a land investor. It acquires US farmland and signs long-term leases with farmers, then tries to stack extra value on the same acres: revenue from solar and wind installations, future carbon-credit sales, and a small portfolio of agriculture-technology bets meant to make the land more productive and less thirsty. It reads closer to a real-assets fund than a classic venture firm, and its ag-tech cheques are the minority of the story.
Water reaches Source Agriculture through exactly one of those bets. The single water company (don't) Waste Water tracks in its portfolio is Hydrosat, a firm whose thermal-infrared satellites read how much heat a field gives off, a proxy for how water-stressed the crop is, so growers can irrigate only where it is needed. Source backed Hydrosat at its 2025 Series B, alongside the Luxembourg Future Fund, and chief executive Roop Mundi framed the deal around helping farmers manage water. In the Leviathan database that is one water company across two funding rounds, which is why (don't) Waste Water rates Source's water commitment Occasional.
For a water founder, Source Agriculture is an unusual door. It does not pretend to be a water specialist, its water exposure runs a single company deep, and its centre of gravity is dirt, not deep tech. But it is a real buyer of American farmland with a stated appetite for technology that makes that land more water-efficient, and it has shown it will write an ag-tech cheque when the water case is concrete. For a team whose technology earns its keep on a working farm, that is worth a conversation.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 1 water companies
Frequently asked
- What does Source Agriculture invest in?
- Source Agriculture, now Source Agriventures, invests mainly in United States farmland, buying productive acres and leasing them to farmers while layering on renewable energy and carbon credits. It also makes a smaller number of agriculture-technology investments; the one water-relevant company (don't) Waste Water tracks is the satellite firm Hydrosat.
- Is Source Agriculture a water investor?
- Not really. Source Agriculture is a farmland and ag-tech investor, and water is a thin slice of its mandate. (don't) Waste Water tracks a single water company in its portfolio, Hydrosat, whose thermal satellites help farmers cut irrigation, and rates Source's overall water commitment Occasional.
- Who runs Source Agriculture?
- Source Agriculture, trading as Source Agriventures, was founded by capital-markets executive Vare Grewal and is led by president and chief executive Roop Mundi, a former securities lawyer raised on an Ontario farm. Nick Kadysh, founder of PharmAla Biotech, sits on its board as a director.
- Is Source Agriculture the same as Source.ag?
- No. Source Agriculture, now Source Agriventures Inc., is a United States farmland and ag-tech investor led by Roop Mundi. Source.ag is a separate Netherlands-based company that sells AI software for greenhouse growers. They share a similar name but are unrelated businesses.