National Bank of Canada to Invest $3 Million in The51’s Food and AgTech Fund
- May 1, 2023
- agricultural technologies, early-stage companies, economic empowerment, Food and AgTech Fund, gender equality, investment, National Bank of Canada, sustainable development, tech sectors, The51
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National Bank of Canada has announced its plan to invest $3 million in The51’s Food and AgTech Fund. The contribution is aimed at advancing Canada’s growing tech sectors, particularly agricultural technologies. The investment will support early-stage companies at the pre-seed, seed, and Series A levels to advance their growth, foster sustainable agricultural development, and strengthen Canada’s food chain.
The51, a national organization headquartered in Alberta, is committed to advancing gender equality through economic empowerment by improving access to capital for women and gender-diverse founders. The Fund will invest in companies focused on agriculture biotechnology, farm innovation, automation, and food innovation businesses.
Alison Sunstrum, Managing General Partner of The51 Food and AgTech Fund, stated that investing in agricultural technology innovation is critical for Canada’s economic growth, food security, and environmental sustainability. Shelley Kuipers, Co-Founder, General Partner of The51, added that the collaboration with National Bank harnesses the economic opportunity of diversity within the food and AgTech sector and beyond. The Bank’s investment is a commitment to further the advancement of investors, founders, and businesses, including underrepresented and diverse groups.
Judith Ménard, Senior Vice President, Commercial Banking and Private Banking at National Bank, said that the Bank is proud to support the rapidly developing food and AgTech sectors as it continues to grow its presence in Western Canada.