First Closing of Fourth Fund
September 9, 2014
Avrio Capital Announces Closing of Fourth Institutional Late Stage Venture Fund
CALGARY, Sept. 9, 2014 /CNW/ – Avrio Capital Inc. (“Avrio”) is pleased to announce the first closing of its fourth institutional late stage venture fund, Avrio Ventures Limited Partnership III (the “Fund”). With initial commitments of $65MM, from incumbent limited partners, Farm Credit Canada (FCC) and Export Development Canada (EDC), the Fund will continue to focus on the agriculture and food sectors, investing in innovative companies that offer solutions to global challenges in the areas of health, wellness and sustainability. This first closing has provided incumbent Limited Partners with the opportunity to continue working with the Avrio team as they expand their leadership position as agriculture and food sector investors. Avrio Ventures Limited Partnership III remains open to new investors and expects to have a subsequent closing some time over the next several months.
“Avrio’s continued growth as a leading investor in Canada’s agriculture and food sector makes them an ideal partner for EDC because we share a common goal: to help leading-edge Canadian companies grow into global market leaders,” said Robert Sturgeon, Senior Investment Manager, EDC.
EDC is one of Canada’s leading fund investors with over 70 active fund relationships worldwide. EDC’s Investment program is designed to facilitate the expansion of Canadian technology companies and SMEs into export markets, particularly emerging markets.
Avrio is Canada’s most experienced and established agriculture and food sector investor having invested in 52 companies over the last 12 years. Avrio’s founders Jim Taylor and Aki Georgacacos worked with Farm Credit Canada in 2002 to create FCC Ventures, North America’s first fully dedicated agriculture and food fund. This fund is now fully realized having achieved a lifetime IRR of approximately 20 per cent. Avrio Ventures Limited Partnership I is now liquidating its holdings and expects to provide investors with a similar return to that of the previous fund.
“We are very thankful for the continued support of both Farm Credit Canada and EDC,” said Jim Taylor, one of Avrio’s founding partners. “They have been investors in all of our funds and have been excellent partners as Avrio has grown into an industry leader with top quartile returns. The agriculture and food sectors now clearly represent a highly investable asset class.”
About Avrio Capital
Avrio Capital was established in 2006 to identify and invest in innovative food and agriculture companies that provide solutions to global challenges in the areas of health, wellness and sustainability. Avrio is a hands-on investor who works alongside of its portfolio companies to provide the support and resources needed to transform emerging companies into successful globally competitive enterprises. For more information, visit www.avriocapital.com.
EDC is Canada’s export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public- sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment. For more information, visit www.edc.ca.
SOURCE Avrio Capital
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