Carrot Ventures is AVAC's primary mechanism for achieving this goal. Carrot forms and funds new companies across the entire AgTech value chain. AVAC is also an active limited partner in select Canadian and U.S. venture capital funds.
Carrot is AVAC Group's company formation platform. It is a business model to attract experienced leadership to vetted agricultural technology and form new companies.
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Carrot is a venture studio focused on forming companies around novel and sustainable agricultural technologies. Carrot brings novel technologies and CEOs together to launch new AgTech companies solving major problems affecting Canadian agriculture. Seed funding and guidance from Carrot fast tracks these companies to commercial success.
Attracting a competent management team
and board of directors.
Ensuring a market focus.
Providing adequate seed
financing to support
the company.
Our fund of funds investing is a balanced mix of technology and AgTech fund investments. We have formed partnerships with top venture capital firms with proven records of success both in Canada and abroad.
AVAC Group is an investor in the following funds:
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For over 25 years, AVAC has supported technology companies at all stages, from startup through scaleup to exit.
Our team brings venture capital, entrepreneurial, business and governance experience, and access to industry leaders, to our portfolio companies and investment partners.
We invest across the all company stages, from formation to exit.
We invest in the agriculture and technology sectors.
We have broad fund exposure and experience investing in over 100 companies.
Martin joined AVAC in 2008 after 20 years of new product commercialization experience at high-growth tech companies. During his 14 years with AVAC, Martin led many successful investments across AVAC’s technology and AgTech portfolio, gaining an extensive understanding of all aspects of venture capital. He currently serves as a director or observer on the boards of seven companies. Since 2019, Martin has led AVAC’s Carrot Ventures initiative. Carrot is a venture studio dedicated to forming new Canadian AgTech companies. In 2021, AVAC and Farm Credit Canada invested as limited partners in Carrot Ventures Fund I, L.P., a $15M AgTech fund managed by AVAC. Martin earned a B.Eng from Memorial University of Newfoundland and an MBA from the University of Calgary. He recently completed the Private Capital Governance Program offered by the CVCA in partnership with the ICD.
Monte directs all back office reporting functions and audit procedures for AVAC’s operations, fund of funds and direct investment portfolio. He received his CPA CA designation in 1991 while employed by a national accounting and audit firm. Monte has past commercial experience as a Controller/CFO of a privately owned oil and gas services company as well as head office experience with a multinational environmental company and a multinational real estate company.
Jim has over 15 years of experience building and investing in digital, life science and agricultural technology companies. Prior to the AVAC Group, he had a productive career as an academic in life sciences and published extensively in various areas of human and animal health. As a past company founder and entrepreneur himself, he has insight into the challenges of the entrepreneurial journey and actions needed to address them. In Jim’s role as co-lead of CARROT, his passion for mentoring innovative technology companies serves to identify and equip teams for significant commercial results.
Louis has a passion for sustainability and innovation in agricultural systems and a diverse career background. His experience includes financial and strategic corporate roles as well as entrepreneurship, with a focus on the agriculture and food industries. As an Associate at Carrot Ventures, Louis applies his expertise to identify high-potential technologies and support the new company formation and financing process for commercial success.
I am an experienced tech founder and mentor, and an active member of the innovation and investment communities. I have been involved in over twenty new ventures, and have experience in CEO, CFO, COO and CTO roles. Working with the Carrot team, my focus is to connect with AgTech innovators & investors to form value generating companies, and to support CEOs as they finance, launch and scale. Each day I focus on accountability, clear communication, driving value and bringing a positive attitude. Please contact me about Carrot’s Venture Studio model.
Cindy Seddon
Finance and Office Administrator
Dr. Sailer has over twenty five years of investment banking and corporate finance experience. During his investment banking experience at Acumen Capital Partners and AltaCorp Capital, he directly managed and co-managed over $5 billion in financings for private and public companies. Alf has also acted as M&A and strategic advisor to numerous enterprises during his tenure at ATB Financial and Grant Thornton.
Alf has served as a board member for two TSX-V listed companies and several not-for profit organizations.
Laurie Powers is a seasoned financial executive with over 25 years of experience in the private sector as well as with Saskatchewan Crown corporations. Ms. Powers is currently the President and Chief Executive Officer of Canterra Capital Corp., managing a diversified portfolio consisting of 175,000 acres of farmland on behalf of the CPP Investment Board. She has held senior positions with Assiniboia Capital Corp., Harvard Developments Inc., Victoria Park Capital Inc., Investment Saskatchewan and Information Services Corporation.
Jerry Bouma is an experienced management consultant in the agriculture and food industry. His professional career includes 10 years with Deloitte (Guelph office and part of the national agri-business consulting practice); 3 years with Maple Leaf Foods; and 25 years with Toma & Bouma Management Consultants. Jerry’s specialities include strategic planning, governance reviews, business and marketing plans as well as market research.
Myles Hamilton currently serves as President & Managing Partner of CanMar Foods Ltd, the largest producer of Food Grade Flax in Canada. He has over 30 years of consumer-packaged goods experience spending the first 6 years of his career at Procter & Gamble (P&G). Following P&G, he spent most of his 15-year career as the Western Canada Vice President at Frito Lay Canada. He was Managing Partner at Spitz International Inc. from 2006 through 2009 and he successfully initiated and led a company sale to PepsiCo Foods (Frito Lay). Myles has a passion for agriculture and he maintains Agricultural Holdings in South East Saskatchewan.
Colette Miller, a partner with Wilde and Company, CPA’s specializes in owner-managed business including taxation and estate/succession planning with a special interest in agricultural-related companies. Her expertise is enhanced by her personal experience of farming with her husband on their cattle and grain operation.
Her current governance roles, in addition to AVAC, include Canadian Business Growth Fund, Covenant Health Audit and Finance Committee and Elk Island Community Foundation. This follows a ten-year directorship with ATB Financial with experience as chair of HRC and Audit.
Graham Drake has over 40 years business experience in Agriculture in various capacities across Canada and Internationally. Graham has served as director on several public companies, as well as CEO of Cervus Equipment for 7 years. Graham continues to serve as an advisor to several private companies in the Ag sector. Graham is passionate about Agriculture and entrepreneurship.
