The51, a women-led investment firm, has closed its Food and AgTech Fund at $51 million, a remarkable achievement in a tough venture capital environment.
This marks the firm’s first sector-specific fund, dedicated to early-stage startups revolutionizing the food and agriculture industries with cutting-edge technologies like AI, robotics, and biotechnology.
Strategic Investments for Transformative Impact
Launched in 2021, the fund focuses on pre-seed to Series A companies, aiming to tackle some of the sector’s most pressing challenges. With an average planned investment of $750,000 per startup, The51 is prioritizing scalable solutions in sustainable food production, agtech advancements, and climate-resilient farming practices.
“This final close empowers The51 Food and AgTech Fund to accelerate the growth of early-stage companies revolutionizing agriculture,” said Alison Sunstrum, general partner at The51.
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Investors Rally Behind the Vision
Originally targeting $25–$30 million, The51 raised its goal to $50 million due to overwhelming investor interest. Contributions came from a diverse group, including Farm Credit Canada, Alberta Enterprise Corporation, National Bank of Canada, and accredited individual investors with deep ties to agribusiness and farming. The final milestone was reached with the support of ATB Financial, Alberta’s Crown corporation.
Government Support and Initial Investments
In October 2023, the fund gained additional momentum by receiving part of the $25 million CAD Venture Capital Catalyst Initiative grant from the Canadian government. To date, it has already backed Calgary-based cleantech company Synergia Biotech with a $350,000 investment, signaling its commitment to fostering innovation from the outset.
The Road Ahead
With $51 million secured, The51 is well-positioned to drive transformative change in the food and agriculture sectors. By championing early-stage startups, the fund aims to deliver sustainable, high-impact solutions to address critical global challenges in food security, climate change, and resource management.
Sunstrum summarized the fund’s mission:
“We’re not just investing in companies; we’re investing in the future of how we feed and sustain the world.”
