The51 Food and AgTech Fund has received a $5 million investment from Alberta Enterprise to provide seed and early-stage capital to Alberta businesses solving the planet’s most urgent food-related climate, environmental, and farming challenge, an April 28 news release said.
The release noted The51 is a Calgary, Alta.-headquartered, women-led venture fund and financial platform led by partners with experience as operators, investors and mentors in multiple sectors including food and agtech. Previously they had raised $21 million in just over three years, with 90 per cent raised from investors who identify as women.
“The51’s ability to discover and support the growth of exceptional food and agtech ventures provides an advantage to Alberta’s startups and our diverse founders,” Kristina Williams, CEO of Alberta Enterprise Corporation, said in the release. “We are excited to support The51’s first institutional fund, and to back a promising female-led venture capital team based here in Alberta.”
The51 Food and AgTech Fund is led by Judy Fairburn, Shelley Kuipers and agtech veteran, Alison Sunstrum, as general partners. All partners are based in Calgary, thee release said.
“As the fifth largest producer of agricultural commodities in the world, Canada has a vital role to play. We’re thrilled to have the support of Alberta Enterprise among the forward-thinking investors ramping up investment so we can better feed the world,” Alison Sunstrum, managing general partner of The51 Food and AgTech Fund, said in the release.
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