On August 23, 2021, Conexus Venture Capital Inc. (“CVC”) announced the launch of its second venture capital fund. Adding to its existing CVC Fund #1, CVC launched Emmertech with a focus on Canadian agtech and agribusiness innovation.
Emmertech reached an initial close of CAD $45 million. According to a release, CVC expects the venture capital fund to cross CAD $60 million by the final close at the end of the year.
CVC has established Emmertech through an industry-first approach, engaging industry stakeholders in order to understand the challenges and needs of the agriculture industry. “The Canadian venture capital playbook doesn’t work within the agtech industry as it does other industries, so we’ve thrown it out and are building our approach that can create highly reliable technology products ready for commercialization in one of the most important industries in the world,” CVC Managing Director Sean O’Connor said in a statement.
MLT Aikins acted as counsel to CVC in establishing Emmertech and its prior fund, CVC Fund #1. The firm has also acted as counsel for the prior fund on a number of investment transactions.