News Summary

The51, a women-led investment firm, has successfully held the final close of its $51 million Food and AgTech Fund, with ATB Financial contributing the final dollar. The fund, which has been raising since 2021, aims to invest in diverse founders transforming food and agriculture with advanced technologies like AI, robotics, and biotechnology. Initially targeting $25 to $30 million, the fund expanded to a $50 million target due to increased investor interest. The51 faced challenges in the venture capital landscape, including a withdrawal of LP investors in 2022, but ultimately secured the full amount with contributions from Farm Credit Canada, Alberta Enterprise Corporation, and other partners. The fund has already invested in Calgary-based Synergia Biotech and was one of the recipients of the Government of Canada’s Venture Capital Catalyst Initiative.