Calgary venture capital firm AVAC Group recently announced the launch of a new $15 million venture capital fund called Carrot Ventures.
The fund has secured financial backing from AVAC and Farm Credit Canada (FCC), and will focus on investing in Canadian agricultural technology start-ups.
Carrot Ventures is not just another venture capital fund; it is a unique model created specifically to address the challenges faced by AgTech start-ups in Canada.
With over 20 years of experience in investing in technology startups, the Carrot Ventures team has created a novel approach to commercializing AgTech intellectual property (IP).
Instead of investing in existing businesses, Carrot sources and vets new technologies, recruits experienced leadership, and creates new companies around the tech and talent. Additionally, Carrot Ventures will lead the first round of financing for these startups.
“We are excited to provide inventors with a third option as they consider commercializing their technologies,” said Warren Bergen, President of AVAC.
“The Carrot company formation model provides a way to accelerate from start-up to market leadership very quickly.” He also expressed his pleasure at the partnership with FCC, Canada’s leading agriculture lender, on this new approach to creating Canadian AgTech companies.
The ultimate goal of Carrot Ventures is to maximize shareholder value by creating new companies focused on solving real market problems in the agricultural technology sector. This innovative approach offers holders of AgTech IP a new option to commercialize their technology, and provides syndicating AgTech investors with a stream of compelling start-ups in which to invest.
By putting novel technology in the hands of professional and experienced leadership, Carrot Ventures ensures that these new companies are properly structured and financed for long-term success.
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