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Avrio Capital completes three investments

Avrio Capital has deployed CAD15M of capital from its third institutional late stage venture fund, Avrio Ventures Limited Partnership III.  

Avrio's new portfolio investees include Intelia Technologies Inc. and Alasko Inc, both based in Montreal, QC and Cadcan Marketing & Sales Inc (operating as CheeCha Puffs), based in Calgary, Alberta.  

"We are very pleased to be partnering with Intelia Technologies Inc, to develop the market for data analytics services to optimise production management across multiple animal husbandry applications. This investment opportunity is highly strategic, as it sits at the very intersection of animal health, and data analytics, two core components of the Avrio investment thesis. The digitisation of animal health represents a new frontier for precision agriculture and we look forward to consolidating Intelia's industry leading position in this segment," says Aki Georgacacos, Senior Managing Director and Co-Founder at Avrio Capital.  

"As we launch into the next phase of our business, we are thrilled to have identified an investor with the deep domain expertise, track record, and commonality in vision to propel our business onto a global stage," says Dominic Desy, CEO of Intelia. 

The investment focus of Fund III remains in the agriculture and food technology sectors, where the firm has posted industry leading results with investments in companies such as Brookside, and Wolf Trax Inc., transactions that were selected as the Canadian Venture Capital Association's Deal of the Year for generating outstanding investment returns. To this end, the Fund also completed two food-tech transactions with Alasko Foods Inc. ("Alasko") and CheeCha Puffs, a manufacturer of healthier, nutritious snack food products. 

Alasko Foods, a leading supplier of frozen fruits and vegetables has raised additional funds in support of the next phase of its growth strategy.  

"We are delighted to be working with Avrio. Their depth of food and agriculture expertise will be an important contribution to achieving our vision", says Michael Vineberg, the Chief Executive of Alasko.  

"Optimising supply chains, minimising food waste and enhancing overall preservation and quality of food is crucial in addressing global food security issues. Alasko's market leadership position in addressing these global trends was very attractive," adds Steven Leakos, Managing Director at Avrio.   

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