Canadian venture capital firm Avrio Capital has invested US$5 million in VoloAgri Group Inc, a San Francisco-based agricultural technology company focused on the vegetable seed market. Avrio’s investment forms part of a larger Series B financing round that is co-led by the firm, and that will enable VoloAgri to accelerate its acquisition and growth strategy. Venture-backed since 2012, the company’s other investors include U.S.-based Kleiner Perkins Caufield & Byers and Singapore-based Clean Resources Asia Growth Fund. Avrio earlier this month invested in Delta, B.C.-based Sun Select Produce LP.
Avrio Capital Inc. Invests in VoloAgri Group Inc.
CALGARY, Oct. 9, 2013 /CNW/ – Avrio Capital Inc. is pleased to announce that it has invested $5M US into VoloAgri Group Inc. (“VoloAgri” or “the Company”). The investment is part of a larger Series B financing round co-lead by Avrio that will enable VoloAgri to accelerate its acquisition and growth strategy in the highly fragmented vegetable seed market.
VoloAgri is a global agricultural technology company, leveraging on strong industry knowledge and networks to enable targeted acquisitions of key seed technology companies creating a global seed platform. The Company is headed by a proven and world class management team that has extensive experience in consolidating and building seed companies.
Michael McGee, Partner with Avrio said “We are very pleased to be partnering with VoloAgri alongside a deep institutional investor syndicate. We are confident that VoloAgri’s management have the experience, drive and capability to grow the Company into a leading player in the vegetable seed industry.”
Michael McGee added: “VoloAgri’s overall philosophy and approach to the breeding and production of hybrid vegetable seeds and germplasm squares perfectly with Avrio’s investment focus on advanced agriculture, health, wellness and sustainability”.
VoloAgri CEO Anthony Padgett added: “We are excited to be working with Avrio, as they bring a combination of real agriculture domain experience alongside their deep network in the Canadian and U.S. greenhouse sectors, which are both very important to VoloAgri. We very much look forward to continuing to work with them to further grow our businesses.
VoloAgri Group, Inc. invests in the global vegetable seed industry. Their focus is on world-class plant breeding and plant genetics, including all major species of vegetables. They apply the latest hybrid breeding technologies to improve agriculture results and foster sustainable agriculture practices.
Headquartered in the San Francisco Bay Area, California, VoloAgri brands now include US Agriseeds, California Hybrids, Catalyst, New World Seeds and Garlikins.
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About Avrio Capital Inc.
Avrio Ventures is a venture capital firm that supports the development of Canadian commercialization and growth stage agriculture and food technology companies into world-class organizations.
SOURCE Avrio Capital
For further information:
For further information, visit www.avriocapital.com or contact:
Michael McGee, Partner
#235, 600 Crowfoot Crescent NW
Calgary, Alberta T3G 0B4
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