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Subject: VEN

AVAC Group Changes Name To Verdex Capital Reflecting A Renewed Focus On The Canadian Agricultural Sector


Requests Community Input via Their Canadian AgFocus Survey

CALGARY, AB, Feb. 26, 2024 /CNW/ - As of February 26, 2024, AVAC Group is officially changing its name to Verdex Capital.

"This rebrand marks a significant milestone in our investment strategy and corporate evolution", says CEO Martin Vetter. "When AVAC started in 1997, we focused exclusively on Alberta's agricultural innovation sector. Over the years, we diversified by investing in technology startups and select fund managers. But we've been steadily returning to our agricultural roots. The rebrand to Verdex Capital formalizes our commitment to Canadian agricultural innovation."

Verdex describes its mission as "advancing Canadian agriculture" for triple-bottom-line outcomes. It looks to invest in ways that achieve strong economic returns with measurable environmental and social impact.

Verdex invests directly via its AgTech venture studio, Carrot Ventures. Carrot Ventures launched in 2021 to commercialize AgTech innovations applicable to Canadian agriculture. It is one of only a handful of AgTech-focused venture studios globally.

In conjunction with the rebranding, Verdex seeks to understand ways to advance Canada's agricultural innovation and startup ecosystems. Verdex invites anyone engaged in AgTech/FoodTech research and innovation, venture ?nance and commercialization, or any form of agriculture or food processing operation to share their insights by participating in the Canadian AgFocus Survey. The intent is to share insights gained to prioritize community investment initiatives.

About Verdex Capital
Verdex Capital (formerly AVAC Group) is a purpose-driven, evergreen venture capital firm. Its mission is to advance Canadian agriculture by investing in high-impact ventures and community development initiatives. It targets triple-bottom-line (economic, environmental, and social) returns. Verdex also invests selectively as a limited partner in other venture capital funds.

About Carrot Ventures
Carrot Ventures is a venture studio that creates new companies to commercialize early-stage agricultural technologies. Carrot offers a path forward for strong technologies with no clear path to market. The fund is a partnership between Verdex Capital and Farm Credit Canada.

SOURCE Verdex Capital


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