Stalker was interested to read about the FCC in Canada ( Farm Credit Canada) is ready to invest $2 billion in agri-tech start-ups. Ottawa has loaned money to Canadian farmers for nearly a century. Now Crown agency Farm Credit Canada is looking to use some of its vast resources to back innovative startups that serve the agri-food business.
FCC said at the end of May it would invest $2-billion through to 2030 to advance ag-tech innovation in the country’s agri-food industry. It will invest through an array of vehicles that includes funds, direct investments and other investment structures, providing equity, convertible equity and mezzanine loans to companies ranging from pre-seed startups to later-stage enterprises that serve the sector.
“There is an opportunity to increase the adoption and access to innovation of the primary producers,” said FCC executive vice-president Darren Baccus, who will oversee the program. “There is a need in this industry for meaningful capital. Canada is so uniquely positioned to be able to do this.”
