In a recent announcement, The51 has revealed about the final close for its $51-million CAD Food and AgTech Fund following its actively raising for nearly 4 years now. Being a venture fund and financial platform, The51 is a Women-led investment firm that was founded in the year 2019, catering in the Venture Capital and Private Equity Principals industry with headquarters in Calgary, Alberta. The firm specialises in Female Funding, Financial Feminism, Female Entrepreneurship, Female Investment, Angel Investment, and Investment Collective.
In addition, the Food and AgTech Fund is the 1st sector-specific fund of the organisation which will invest in diverse founders those who are focusing on transforming food and agriculture, having advanced technology between the pre-seed and Series A stages.
Alison Sunstrum, the general partner at The51 stated, “This final close empowers The51 Food and AgTech Fund to accelerate the growth of early-stage companies revolutionizing agriculture. By leveraging technologies like AI, robotics, and biotechnology, these companies are poised to transform the industry.”
She added, “The current VC environment forces discipline. We honed our thesis and doubled down, building our team, advisory bench, created a new AgTech focused management entity and expanded our reach with offices in Calgary, Vancouver and Toronto. This trend reflects a broader market correction, we are prioritizing companies that demonstrate clear paths to scalability and profitability.”
Moreover, The51and Alberta Crown corporation ATB Financial’s joint statement has come out that contributed the final dollar in the 2024’s second half, saying that the closing of the fund marks a significant milestone in the current challenging landscape of venture capital.
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