A new fund that will provide capital to companies with a focus on industrial bio-products, food technology and nutraceutical ingredients was announced by FCC Ventures.

In partnership with Avrio Ventures Limited, along with new partners Export Development Canada (EDC) and Business Development Bank of Canada (BDC), the fund has total commitments of $75 million to be given to companies in the industry.

"There is a critical need for venture capital in the agriculture life sciences area. We are confident that the growing use of agricultural products for industrial purposes and the increasing global interest in agriculture will attract significant private investment interest over time. The Avrio fund will foster this investment in an important part of the Canadian agriculture industry," says Rick Hoffman, FCC’s Vice-President of Finance and Venture Capital.

The fund will help to create new Canadian companies and will provide opportunities for firms to help shape the bio-economy in Canada as well as being able to build in new untapped markets. In turn, it is hoped they will be able to create new channels to distribute and be able to market scientific advances that will help Canada as a whole.

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