“Our mission is to advance Canadian agriculture by investing in venture and community development”

Carrot Ventures, launched by Verdex Capital, is an innovative venture studio interested in the commercialization of high-impact agricultural and food technologies addressing significant market challenges along the "Farm to Fork" value chain. It commits to sustainable development by actively seeking innovations relevant to the Canadian agriculture sector while remaining flexible in exploring agricultural applications of technologies developed in other industries. This unique parallel-market model allows intellectual property owners to better their value and bring innovations to market powerfully.

Nearly three decades of investments in startups, Verdex Capital has identified the imperative to break the mold and redefine support for technology inventors. Carrot Ventures provides such innovators with essential resources in the form of validated technologies with clear value propositions and strong leadership teams. The studio provides adequate seed capital, robust legal frameworks, and governance structures to effectively execute business plans.

Carrot Ventures excels by identifying and evaluating new technologies, recruiting experienced leadership to form companies that unlock the talent and innovation of challenging systemic issues faced by startups in AgTech. Being closely collaborative with every single team, the studio brings about growth and an environment beneficial for the advancement of innovative agricultural technology. Through this integrative approach, Carrot Venture aims to drive transformation improvement in the AgTech industry so that it can offer efficiency and sustainability for future farming.

How it Works?

Carrot Ventures has a structured process of partnering with the owners of AgTech intellectual property. First, an IP owner will express interest through an Express Interest form. A representative from Carrot makes a preliminary assessment on whether it will fit into their business model. Thereafter, due diligence is carried out on the technology and the market potential. It is then confirmed to be commercially viable, and an Option Agreement is entered with Carrot, giving the company a 12-month right of first refusal.

Once the terms are agreed to, Carrot assembles a leadership team with some relevant experience and an entrepreneurial mindset. Then, it forms a new company founded by the IP owner; the leadership team; and Carrot Ventures, both as founding shareholders. And then, the governance board is formed in order to guide the venture.

The leadership team then drafts a business and financial plan for the board's approval, and consequently issues a financing term sheet. Strong technology, leadership, and institutional back-up lead to seed financing by the CEO. After all, the funding is assured, the team runs the business plan, and brings in the market entry. They take advantage of the continued support and governance given by Carrot Ventures.

Who They Work With?

Carrot Ventures will turn these innovative agricultural technologies into successful businesses, working with researchers, institutions, and corporations to address these commercialization challenges typically associated with AgTech innovations. Such inventors can choose to go solo and pursue their idea or co-found the venture with professionals experienced in leading such a venture that they have selected, increasing the chances of success. Carrot seeks collaboration with food and agriculture innovators-a wide sector that includes innovating in crop, animal, digital agriculture, or food safety. The studio sources novel intellectual property; it provides the resources, leadership, and funding to turn them into viable companies.

Early-stage entrepreneurs have a chance to co-found companies with promising agricultural technologies. Innovation and sustainability in the sector are assured. Underutilized AgTech intellectual property of corporations are also welcomed for collaboration with the value unlocking from the innovations that deserve more attention. Through such partnerships, Carrot Ventures is looking to enrich and make the AgTech space more efficient as it focuses on sustainability with solutions to be delivered in the marketplace. Together, they can work toward a better sustainable future for agriculture.

The Visionaries Behind Carrot Ventures: Martin Vetter and Jim Hardin

Martin Vetter, the Co-Founder of Carrot Ventures, helps in brining innovative technologies to market while using his expertise in the operations and financing aspects of such matters. Mr. Vetter delivers high-class sourcing of the technology, talent acquisition, securing terms on investment, as well as developing investee companies toward success. Holding both a Bachelor of Engineering from Memorial University of Newfoundland and an MBA from the University of Calgary, Martin combines technical skill with business acumen in supporting growth and facilitating impactful technological improvements across many sectors.

“The AgTech community is challenged to develop solutions to feeding an ever-expanding global population. Carrot Ventures helps making it possible.”