KINSTON — International Farming Corp., a Kinston-based agricultural investment company, has raised $404 million in a fund to invest in U.S. farmland.

International Farming

According to the Form D filed earlier this week, the company must collect over $1 billion in addition to sell its entire offering of $1.5 billion

The company announced last year that the primary purpose of the fund is to buy and lease large-acreage US farmland to large-scale tenants.

International Farming has invested in agricultural technology companies in North America, South America and Eastern Europe.

Charles McNairy is the current CEO of International Farming, a company founded by his family in 1871. He was a Morehead Scholar and basketball player at UNC-Chapel Hill.

McNairy is a former Morgan Stanley analyst and earned his MBA at Harvard University.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism