Climate Insider Brief:
- Tall Grass Ventures (TGV) announced the successful close of its inaugural fund, raising $32 million due to strong investor interest.
- TGV focuses on early-stage agricultural and food technology companies, investing in pre-Series A technology firms across Canada to address global agricultural challenges.
- The fund attracted a diverse group of investors, including Manitoba First Fund, Farm Credit Canada, and various stakeholders from the agriculture and financial sectors, highlighting broad support for agricultural innovation and sustainability.
PRESS RELEASE – Calgary, Alberta / July 04, 2024 – Tall Grass Ventures (TGV), an early-stage venture capital firm focused on fundamentally advancing agriculture and food on a global scale, today announced the successful close of its inaugural fund with a total fund size of $32 million. Having upsized the fund as a result of investor interest, the team is humbled by the support and conviction that investors have in the values forward approach of TGV and the opportunity to advance a sector that is a cornerstone of the Canadian and global economy.
Wilson Acton, Managing Partner of Tall Grass Ventures commented:
“As an emerging fund manager, in many ways we are a start-up similar to the companies in which we are investing. Since our inception, we have stayed true to our approach focusing on how we are uniquely positioned to add value to a portfolio company as opposed to a singular focus on returns. The result is a balanced, full cycle view that focuses on the inputs of building great companies which drives the output of leading returns. The support that we’ve received from the capital markets has been validating of our approach and focus.
“Our team deeply believes that agriculture is underserved by innovation investment and founders need real, tactical support more than just capital. While our team’s foundation is built on shared values and a passion for agriculture, our strength lies in our differences. This collaborative approach that embraces diverse viewpoints has shaped our firm’s evolution and guides how we invest and create value for our portfolio companies.”
Tall Grass Ventures Fund I (the Fund) garnered significant interest from a diverse range of investors. With our final closing, we welcome Manitoba First Fund as one of our leading investors alongside Farm Credit Canada. In addition to our institutional investors, our limited partners include leading grain and livestock producers from Manitoba to British Columbia; livestock feeders; commodity brokers and traders; financial service firms; private equity investors; technology founders; and executives in ag machinery, energy, construction, and marketing. While this community of investors are keenly interested in fund performance, they also have a vested interest in innovation adoption and resiliency across the sector.
Chris Edwards, Managing Partner and co-founder of TGV alongside Acton, commented:
“This has been an incredible and special journey alongside a fantastic group of people. It is extremely rewarding seeing what a group of motivated and driven individuals can do when they put their heads together. Every partnership we developed came from a relationship that wasgenuinely and purposefully nurtured, resulting in both quality and depth. This symbiosis across our network has allowed us to create a continuous feedback loop which ultimately drives higher performance for everyone.”
Ken Ross, CEO of Manitoba First Fund, commented:
“Manitoba First Fund is proud to invest in Tall Grass Ventures, recognizing their differentiated approach to addressing critical challenges that are central to Manitoba’s economic growth. We believe their focus on early stage, agricultural innovation will create significant opportunities for Manitoba’s economy and communities, fostering growth and sustainability in a vital sector. This is the first startup fund that we have invested with, and we continue our focus to add further start-up funds to broaden our portfolio.”
Tall Grass Ventures Fund I is actively investing in pre-Series A technology companies across the agriculture and food supply chain. The Fund primarily invests in companies across Canada and those that have strong applicability to Canadian agriculture. TGV has welcomed 11 companies to the portfolio representing various aspects of the agrifood supply chain from gene editing and biological solutions to software and hardware solutions in specialty crops, plant-tissue sampling, grain grading and beyond.
TGV’s investment strategy is aligned with addressing some of the most pressing challenges facing global agriculture. The sector demands urgent attention due to the growing impact of climate change, increasing food demand, fragile supply chains, rising prices, and geopolitical tensions that strain the global food supply. With rapid technological advancements on the horizon, now is the right time to invest in and catalyze growth throughout the agricultural sector.
About Tall Grass Ventures
Tall Grass Ventures is a venture capital firm investing in early-stage companies that are reimagining the future of agriculture and food. With a team of experienced investors and operators, TGV partners with visionary entrepreneurs to build category-defining businesses. To learn more visit www.tallgrass.vc
About Manitoba First
Manitoba First Fund (MFF) is a $100 million, provincially funded venture capital organization that was formed in 2023. MFF was established as a fund of funds to partner with existing investment funds that commit to investing in Manitoba and bring additional capital to the market. MFF does not invest directly into Manitoba businesses but through its partnership with other funds, facilitates access to capital for Manitoba businesses in order to further the development, growth and success of Manitoba’s economy and communities and to create opportunities for Manitoba.
About Farm Credit Canada
Farm Credit is Canada’s leading agriculture and food lender, dedicated to the industry that feeds the world. FCC provides a complement of expertise and services designed to support the complex and evolving needs of food businesses. As a financial Crown corporation, FCC is a stable partner that reinvests profits back into the industry and communities it serves. For more information, visit fcc.ca.
Media Contact:
Marlise Hunter
Director of Platform
SOURCE: Tall Grass Ventures
Featured Image: Credit: Tall Grass Ventures
