Avrio Capital

Avrio Capital Inc. is a venture capital and private equity investment firm based in Alberta, Canada, with additional offices in Ontario and Quebec. Founded in 2006, the firm specializes in investing in commercialization to growth-stage companies, particularly in sectors such as food technology, advanced agriculture, industrial bioproducts, and nutraceutical ingredients. Avrio Capital focuses on innovative businesses that address global challenges related to health, wellness, and sustainability. The firm targets investments ranging from CAD $1 million to CAD $10 million, reserving significant capital for future financing rounds. It primarily seeks to invest in companies with annual sales between CAD $1 million and CAD $20 million, and it prefers to take an active role in its investments. Avrio Capital emphasizes its commitment to companies based in Canada and North America.

Denis Boyer

Senior Associate

Steven Leakos

Managing Director and Partner

Michael McGee

Partner

Jim Taylor

Co-Founder and Chairman

27 past transactions

Hortau

Venture Round in 2019
Hortau specializes in wireless and web-based irrigation management. Hortau integrates proprietary soil sensing innovations with the latest information technologies to deliver the most advanced irrigation management solutions on the market. Hortau was founded in 2002, by Dr. Jean Caron, Agronomist, Ph.D in Soil Physics and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics. Their expertise is in Agronomy, Soil Physics and Agricultural Engineering. Improving crop production is their focus.

Enterra Feed

Series B in 2018
Enterra is a Vancouver-based company commercializing a natural system that uses a common beneficial insect to rapidly recover nutrients from recycled food waste; sourced from grocery stores, markets, food distributors and food processors, to up-cycle the nutrients into sustainable feed ingredients for aquaculture, animal feed and pet food, as well as a concentrated natural fertilizer product for use in agriculture.

SOL Cuisine

Venture Round in 2018
Sol Cuisine Inc. is a Canadian company based in Mississauga, specializing in the manufacturing of vegetarian, vegan, halal, gluten-free, and organic frozen and fresh meat alternatives. Founded in 1980, the company offers a diverse range of products, including fattoush salad, horseradish aioli, vegan chipotle aioli, lemon dill aioli, vegan maki, the ultimate vegan poutine, and savory morning swirls. Committed to using local and environmentally sustainable ingredients, Sol Cuisine focuses on delivering delicious and high-quality foods that cater to health-conscious consumers.

Hortau

Series D in 2018
Hortau specializes in wireless and web-based irrigation management. Hortau integrates proprietary soil sensing innovations with the latest information technologies to deliver the most advanced irrigation management solutions on the market. Hortau was founded in 2002, by Dr. Jean Caron, Agronomist, Ph.D in Soil Physics and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics. Their expertise is in Agronomy, Soil Physics and Agricultural Engineering. Improving crop production is their focus.

Fody Food

Series A in 2017
Fody Food creates a delicious, gut-friendly, low FODMAP foods. They believe that nothing should hinder freedom – especially not food. Through their delicious low FODMAP foods and recipes, they provide people much-needed relief from their IBS symptoms. Fody Food was in 2016 and is based in Montreal, Quebec.

Phytelligence

Series B in 2017
Phytelligence is a product-focused technology company that develops and provides smart plants and solutions to growers, nurseries, and horticultural experts. It provides custom genetic analysis services that assess the similarity or dissimilarity of closely related samples. The company provides plants free of diseases, viruses, and pests. Its portfolio includes the Geneva series, Gisela series, and Krymsk series of rootstocks. Phytelligence was founded in 2012 by Amit Dhingra, and it is based in Pullman, Washington.

FarmLead

Series A in 2017
FarmLead Resources Ltd. operates a digital marketplace that allows buyers and sellers to list, negotiate, and finalize grain deals. The company offers GrainTests.com, an online service that allows grain farmers to test their grain. It serves farms in North America. Its marketplace is available online and as a mobile application. The company was founded in 2013 and is based in Ottawa, Canada. It has operations in Alberta, Saskatchewan, Manitoba, and Ontario.

Intelia

Venture Round in 2016
Intelia Technologies Inc. is a contract manufacturing and design company based in Joliette, Canada, established in 1999. The company specializes in providing comprehensive electronics engineering and manufacturing services, focusing on custom electronic products such as control and automation systems, data acquisition devices, communication tools, and specialized sensors. Intelia also offers after-sales services, including system repairs and upgrades. In addition to its manufacturing capabilities, the company develops advanced software and AI algorithms aimed at the poultry industry, utilizing a web-based platform that collects and analyzes production data through various sensors. This system enables poultry producers to gain valuable insights, improve profitability, and identify patterns in their operations, thereby enhancing efficiency and decision-making. Intelia serves a diverse range of sectors, including water distribution, entertainment, agriculture, and health.

Alasko

Private Equity Round in 2016
The Alasko global supply network reaches over 60 agri-food producers, in 20 countries. All facilities are federally inspected and satisfy all of the H.A.C.C.P. program requirements. We import, prepare and distribute over 80 million pounds of frozen foods. Our distribution network currently utilizes 7 warehouses across North America and offers optimal efficiency and control of the cold chain: frozen food requires constant follow-up. Our internal quality assurance program provides for constant monitoring of all products to ensure the highest safety and quality standards are respected throughout the cold chain. Our Montreal facility is certified by the Canadian Food Inspection Agency (C.F.I.A) and has recently received a GFTC gold rating. We also have received organic certification by Ecocert Canada.

CheeCha Puffs

Private Equity Round in 2016
Friends don't let friends eat greasy potato chips. CheeCha Puffs are minimal calorie, maximum flavour snacks that Canada has fallen in love with!

Hortau

Series C in 2016
Hortau specializes in wireless and web-based irrigation management. Hortau integrates proprietary soil sensing innovations with the latest information technologies to deliver the most advanced irrigation management solutions on the market. Hortau was founded in 2002, by Dr. Jean Caron, Agronomist, Ph.D in Soil Physics and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics. Their expertise is in Agronomy, Soil Physics and Agricultural Engineering. Improving crop production is their focus.

Hortau

Venture Round in 2014
Hortau specializes in wireless and web-based irrigation management. Hortau integrates proprietary soil sensing innovations with the latest information technologies to deliver the most advanced irrigation management solutions on the market. Hortau was founded in 2002, by Dr. Jean Caron, Agronomist, Ph.D in Soil Physics and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics. Their expertise is in Agronomy, Soil Physics and Agricultural Engineering. Improving crop production is their focus.

Enterra Feed

Venture Round in 2014
Enterra is a Vancouver-based company commercializing a natural system that uses a common beneficial insect to rapidly recover nutrients from recycled food waste; sourced from grocery stores, markets, food distributors and food processors, to up-cycle the nutrients into sustainable feed ingredients for aquaculture, animal feed and pet food, as well as a concentrated natural fertilizer product for use in agriculture.

VoloAgri Group

Series B in 2013
VoloAgri Group, Inc. is an ag-tech company specializing in plant genetics and hybrid vegetable breeding services. Founded in 2012 and headquartered in South San Francisco, California, the company operates additional centers in San Luis Obispo, California, and Naaldwijk, the Netherlands, with facilities in Spain, Mexico, Turkey, and Lebanon. VoloAgri focuses on advancing the global vegetable seed industry by employing the latest hybrid breeding technologies to enhance agricultural outcomes while promoting sustainable practices. The company is committed to non-GMO methods and encompasses all major species of vegetables in its breeding initiatives.

SunSelect

Venture Round in 2013
SunSelect Produce, Inc. is a leading producer and marketer of greenhouse-grown vegetables, specializing in bell peppers, including red, orange, and yellow varieties, as well as tomatoes and cucumbers. Established in 1985 and based in Aldergrove, Canada, the company has played a foundational role in the greenhouse industry in Western Canada. SunSelect operates two greenhouse facilities encompassing 70 acres, along with an additional 135 acres of land in British Columbia. The company is known for its commitment to sustainability, employing a carbon-neutral growing process that utilizes a green carbon capture system to convert waste carbon dioxide into fertilizer for its crops. SunSelect's products are distributed through retailers across North America, reflecting its strong reputation and extensive experience in greenhouse management, supported by a team with over a century of collective expertise.

VoloAgri Group

Series B in 2013
VoloAgri Group, Inc. is an ag-tech company specializing in plant genetics and hybrid vegetable breeding services. Founded in 2012 and headquartered in South San Francisco, California, the company operates additional centers in San Luis Obispo, California, and Naaldwijk, the Netherlands, with facilities in Spain, Mexico, Turkey, and Lebanon. VoloAgri focuses on advancing the global vegetable seed industry by employing the latest hybrid breeding technologies to enhance agricultural outcomes while promoting sustainable practices. The company is committed to non-GMO methods and encompasses all major species of vegetables in its breeding initiatives.

VoloAgri Group

Venture Round in 2013
VoloAgri Group, Inc. is an ag-tech company specializing in plant genetics and hybrid vegetable breeding services. Founded in 2012 and headquartered in South San Francisco, California, the company operates additional centers in San Luis Obispo, California, and Naaldwijk, the Netherlands, with facilities in Spain, Mexico, Turkey, and Lebanon. VoloAgri focuses on advancing the global vegetable seed industry by employing the latest hybrid breeding technologies to enhance agricultural outcomes while promoting sustainable practices. The company is committed to non-GMO methods and encompasses all major species of vegetables in its breeding initiatives.

Bare Snacks

Venture Round in 2013
Bare Snacks, originally known as Bare Fruit, was founded by Eric Strandberg and has been delivering healthy snack options for over a decade. The company specializes in baked crunchy fruit and vegetable chips, focusing on simple ingredients that are gluten-free, non-GMO, and free from preservatives or artificial additives. As the leading brand of apple chips in the United States, Bare Snacks has experienced significant growth since 2013, positioning itself as one of the fastest-growing healthy snack brands in the country. By prioritizing quality and healthfulness, Bare Snacks aims to provide consumers with nutritious snacking alternatives.

Hortau

Venture Round in 2013
Hortau specializes in wireless and web-based irrigation management. Hortau integrates proprietary soil sensing innovations with the latest information technologies to deliver the most advanced irrigation management solutions on the market. Hortau was founded in 2002, by Dr. Jean Caron, Agronomist, Ph.D in Soil Physics and Jocelyn Boudreau, agricultural engineer, M.Sc. in Soil Physics. Their expertise is in Agronomy, Soil Physics and Agricultural Engineering. Improving crop production is their focus.

Farmers Edge

Venture Round in 2012
Farmers Edge Inc. is leading the next agricultural revolution with the industry’s broadest portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the Company’s digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital transformation on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population.

Allylix

Venture Round in 2012
Allylix, Inc., an early stage biotechnology company, develops terpene products and their derivatives for the flavor and fragrance, food ingredient, pharmaceutical, agricultural, and biofuel markets. Its products comprise nootkatone, which is a grapefruit flavor that is used in fruit juices and citrus flavored sodas. The company also develops sesquiterpenes that are part of aroma chemical segment of the flavor and fragrance market; and production platforms for pharmaceutical, nutraceutical, and agricultural markets. Allylix, Inc. was founded in 2002 and is based in San Diego, California with research and development laboratories in Lexington, Kentucky.

Biopharmacopae

Venture Round in 2011
Biopharmacopae is a company specialized in the discovery and development of innovative, science-based, plant-derived products for the skin care, cosmeceuticals, nutraceutical, and nutrition industries.

Advitech

Venture Round in 2010
Advitech is a life science and technology company with the mission to discover and commercialize patented, scientifically supported natural health products. Effective and safe, these products target immune system disorders, such as psoriasis and inflammatory bowel disease. Advitech produces Dermylex (R) for the treatment of mild to moderate psoriasis. Advitech has developed a research program to develop new applications in the field of wound healing. This development program stems from the two technological platforms XP-828L and IM.

Advitech

Venture Round in 2009
Advitech is a life science and technology company with the mission to discover and commercialize patented, scientifically supported natural health products. Effective and safe, these products target immune system disorders, such as psoriasis and inflammatory bowel disease. Advitech produces Dermylex (R) for the treatment of mild to moderate psoriasis. Advitech has developed a research program to develop new applications in the field of wound healing. This development program stems from the two technological platforms XP-828L and IM.

Biopharmacopae

Series A in 2008
Biopharmacopae is a company specialized in the discovery and development of innovative, science-based, plant-derived products for the skin care, cosmeceuticals, nutraceutical, and nutrition industries.

Origin BioMed

Venture Round in 2007
Origin BioMed Inc. is a Canadian manufacturer of over-the-counter consumer health products, specializing in therapeutic solutions for neuropathic pain. The company is best known for its product Neuragen, a non-prescriptive, topically applied homeopathic drug designed to alleviate nerve pain associated with conditions such as diabetic nerve pain, post-shingles pain, and chronic nerve pain. Origin BioMed's products are accessible through pharmacies across Canada and the United States, as well as online platforms. Founded in 2001, the company operates from its base in Halifax, Nova Scotia, and serves a growing market in North America.

Manitoba Harvest

Venture Round in 2001
Fresh Hemp Foods Ltd., doing business as Manitoba Harvest, produces hemp food. The company offers hemp hearts, heart bites, heart bars, protein smoothies, protein powders, and oils. It sells its products through retail stores, as well as an online store. The company was founded in 1998 and is headquartered in Winnipeg, Canada. As of February 27, 2019, Fresh Hemp Foods Ltd. operates as a subsidiary of Tilray, Inc.