Nàdarra raises C$20m for inaugural sustainable biotech fund

• The vehicle’s target is C$50 million
• The fund will make seed and Series A investments in Canadian sustainable biotechnology companies with a focus on the food, agriculture and materials sectors
• Based in Halifax, Nàdarra Ventures was officially launched in the first quarter of 2023

Nàdarra Ventures, a new Canadian venture capital firm, has held an initial close of its debut sustainable biotechnology fund, raising C$20 million. The vehicle’s target is C$50 million.

The founding investors were Farm Credit Canada, Natural Products Canada and several Canadian family offices.

The fund will make seed and Series A investments in Canadian sustainable biotechnology companies with a focus on the food, agriculture and materials sectors.

“Food insecurity and challenges related to sustainability are hitting consumers hard, both in Canada and around the world. There’s an urgent need to scale sustainable biotechnologies that take aim at environmentally friendly agricultural practices, including the carbon footprint of food, water, and packaging supply chains,” said Malcolm Fraser, a managing partner at Nàdarra Ventures, in a statement. “The global demand for these solutions has created a USD$1 trillion market opportunity – one that we believe Canadian entrepreneurs are uniquely positioned to capture.”

Based in Halifax, Nàdarra was officially launched in the first quarter of 2023. The firm is led by managing partner Malcolm Fraser and partner Mary Dimou.