Manitoba First Fund tabs money for ag tech
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The Manitoba First Fund is funnelling $5 million into the Pioneer Fund, a pot aimed at boosting early-stage agri-food technology businesses.
SVG Ventures Thrive, the Silicon Valley-based organization behind Pioneer, will contribute a matching $5 million. In total, $10 million is slated for Manitoba firms.
SVG Ventures has a collaboration with the Enterprise Machine Intelligence Learning Initiative and its Innovation Farms, which agriculture start-ups use to test their products.
Innovation Farms is based in Grosse Isle.
The Manitoba First Fund has committed to a five-year investment period with an overall total term for the fund of 10 years. It’s promised $85 million of its total $100 million to various funds, to bolster investment in the province.
— staff