SVG Ventures THRIVE is aiming to raise $75 million for its third fund dedicated to supporting global agrifood startups developing sustainable solutions.
Called the “Pioneer Fund,” SVG Ventures Thrive plans to make initial investments in seed to Series A stage agrifood startups.
Federal Crown corp Farm Credit Canada (FCC) has been confirmed as the lead investor in the fund, with participation from private family foundation Argosy Foundation.
Agriculture is uniquely positioned to tackle global sustainability challenges, and the Pioneer Fund will support founders and innovators along the entire agrifood value chain, while seeking to earn competitive returns for investors.
SVG Ventures will continue its model of advancing and elevating start-ups in partnership with Alberta Innovates through its THRIVE Accelerator Programs and recently launched THRIVE Academy, pre-accelerator program funded by Alberta Innovates.
Graduates from these SVG Ventures THRIVE administered programs provide both robust investment opportunities to the Pioneer Fund as well as unique insights into participants’ founders, technologies, and business models.
“We are delighted to have FCC join us as lead investor in our Pioneer Fund,” said John Hartnett, Founder and CEO SVG Ventures THRIVE. “FCC has been a long-time partner and key supporter of early-stage agrifood tech companies and we are delighted to expand our partnership with this investment.”