The 51, a women-led investment firm, has closed its $51-million CAD Food and AgTech Fund. The fund has been actively raising money for almost four years and wants to put money into pre-seed to Series A stage companies using new technology to change food and farming. When the fund was first announced in September 2021, its goal was $25–30 million. In 2022, that goal was raised to $50 million.
Farm Credit Canada, Alberta Enterprise Corporation, the National Bank of Canada, family foundations, and a number of accredited investors helped the company get $30 million of its $50 million goal in April 2023. The fund has already put money into six businesses, such as Synergia Biotech, Erthos, and ArkeaBio. The51 has grown by opening offices in Calgary, Vancouver, and Toronto.
