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$45 million available to boost Canadian agtech startups.
August 27, 2021 | Calgary, AB – A year after standing up a line of business focused on supporting Alberta’s agricultural sector, connectFirst Credit Union announces investment in Emmertech, a venture capital fund focused on Canadian Agtech and agribusiness innovation.
“It would be an understatement to say it’s been a tough year for Alberta’s agriculture sector,” says Liz Stretch, senior vice president of agriculture and independent business, connectFirst Credit Union. “Agriculture is the backbone of Alberta’s economy and connectFirst is laser focused on supporting our farmers through thick and thin, while injecting much needed capital to build a stronger future for our producers and the industry.”
Launched in 2021, Emmertech is a venture capital fund managed and operated by Conexus Venture Capital Inc. It has been formed on the premise that Canadian Agtech cannot grow when capital needs to come from Bay Street. The new venture capital fund brings together key leaders from the agriculture sector across Canada that believe Canadian Agtech will flourish in local ecosystems.
Agriculture is a long-standing Alberta success story and the technology sector is quickly following suit. Emmertech will effectively bring both sectors together to accelerate and grow Agtech ventures built to solve global problems.
“connectFirst believes Agtech is a huge opportunity in building a more prosperous Alberta and we look forward to partnering with our province’s leaders in the agriculture ecosystem to drive this opportunity for innovation,” says Wellington Holbrook, chief operating officer, connectFirst Credit Union.
Emmertech is fundamentally taking a different approach to venture capital. Its investor base is predominantly made up of agriculture stakeholders, including farmers, agribusiness owners, ag-focused insurance companies, and credit unions anchored in agricultural communities. For a full list of investors visit www.emmertech.ca
ABOUT CONNECTFIRST CREDIT UNION
ConnectFirst Credit Union, one of the largest and most successful credit unions in Canada, is a full-service financial institution with over $6 billion in assets under administration. connectFirst employs 750 Albertans who provide a range of financial products and advice in more than 40 communities across central and southern Alberta. It serves over 125,000 members through a community-focused approach to banking.
ABOUT EMMERTECH
Emmertech is a new Agtech focused venture capital fund managed and operated by Conexus Venture Capital Inc. It takes a fundamentally different approach to venture capital, with an investor base comprised predominantly of critical players who work in, serve or have deep knowledge of the agricultural sector. Emmertech empowers founders to harness data, connectivity, and advanced technologies to lead the next evolution in agriculture, establishing Canada as a global influencer in Agtech. To learn more visit Conexus.ca.
MEDIA CONTACT:
Teri Buckley
Director, corporate communications at connectFirst Credit Union
403-312-8749