Key Takeaways:
- New Venture Capital Fund: RHA Ventures launches $30M 519 Growth Fund II.
- Investment Focus: Targets early-stage companies in Agriculture, Agri-Food, and Technology-Enabled sectors.
- Vision: Aim to support innovative, sustainable technologies and offer competitive returns.
- Fundraising Progress: Secured a term sheet with an anchor investor, targeting the first close in March 2024.
- Support for Early-Stage Companies: Emphasis on filling the market gap in capital and business support.
- Increased Investment Size: Plans to invest $750,000 to $1,000,000 in seed-stage companies.
RHA Ventures Inc., a boutique investment firm, has launched its new $30M Venture Capital Fund, 519 Growth Fund II. This fund is designed to invest in early-stage companies in the Agriculture, Agri-Food, and Technology-Enabled sectors.
Fund Objectives and Strategy
The fund’s vision is to support the commercialization of innovative, sustainable technologies while ensuring competitive returns for investors. RHA Ventures addresses key challenges such as economic development, job creation, and sustainability.
Previous Fund Success
The new fund follows the successful 519 Growth Fund I, which also targeted high-potential, early-stage companies with investments between $75,000 and $250,000. The second fund, 519 GFII, will continue this focus with larger investments.
Target and Approach
519 GFII will primarily target Canadian-based firms. RHA Ventures’ team of experienced founders and entrepreneurs will actively support the portfolio companies, leveraging their expertise and networks.
Founders for Founders Approach
Joe Dales, co-founder of RHA, emphasizes the “Founders for Founders” approach, highlighting the need for sector expertise, operational capability, and networks for early-stage company founders.
Photo by James Baltz on Unsplash
