TLDR:
– Tall Grass Ventures secured $32 million CAD for its first fund to back early-stage AgTech and foodtech startups.
– The leading limited partners include the provincially-funded Manitoba First Fund and Farm Credit Canada.
Calgary’s Tall Grass Ventures (TGV) has closed a $32-million VC fund to support early-stage AgTech and foodtech startups across Canada and beyond. The fund’s LPs include Manitoba First Fund and Farm Credit Canada, along with other industry players like grain and livestock producers, private equity investors, and tech founders. TGV aims to invest in companies innovating across the agri-food supply chain, highlighting the lack of VC firms exclusively focused on agriculture and food. This investment comes at a crucial time, as global agriculture faces challenges like climate change, food demand, and supply chain issues. TGV plans to allocate three-quarters of the fund towards Canadian-based startups, while also taking a global view.
TGV has already invested in 11 startups out of a planned 20, focusing on companies like GeneNeer, Vivid Machines, OneCup AI, and more. The firm aims to lead rounds and support follow-on investments in portfolio startups, emphasizing the importance of adding value at the early stages. Despite market conditions, TGV sees room for growth and the opportunity to connect other investors to the agriculture and foodtech space. With a strong early track record and increasing investor appetite, TGV is positioning itself as a key player in the AgTech sector, aiming to build a leading firm in Canada and globally.
