What Carrot Ventures does

Carrot Ventures is a Calgary-based agricultural technology venture studio founded in 2021 and operated through Carrot Ventures Fund I, L.P., a $15 million (CAD) limited partnership created by Verdex Capital (formerly AVAC Group) with Farm Credit Canada as a strategic LP. The firm does not develop proprietary technology or fund existing startups; instead it sources venture-scale AgTech intellectual property at TRL 5-7 from IP owners, recruits experienced CEO-founders via global executive search, structures and incorporates new companies, and leads initial seed financing rounds with the goal of accelerating commercialization success rates versus independently founded startups. Carrot generates returns entirely through significant equity ownership in its portfolio companies rather than fees to IP owners, and monetizes only on equity appreciation as portfolio companies grow and raise subsequent rounds.

The studio's operating model is supported by a hybrid segmentation approach targeting three constituencies: AgTech IP owners (scientists, corporations, research institutions) seeking commercial partners; experienced executive leaders wanting to found and run a new AgTech venture; and syndicating investors seeking curated, properly structured seed-stage deal flow. Distribution occurs through content marketing (blog, eBook, email newsletter), direct outreach at AgTech financing conferences, and a formal online application process. Operating geography is North America with a primary focus on Western Canada.

The current portfolio comprises two companies: Susterre Technologies, founded 2020/2022 around ultra-high pressure fluid jet technology for no-till row crop farming (co-developed with I-Cubed Industry Innovators and Hypertherm, and led by Carrot in an over-$2M CAD seed round), and Cellar Insights, formed May 2023 as a sensor and cloud-based predictive analytics platform for potato storage management. The studio is actively soliciting applications across multiple AgTech subsectors including Animal, Crop, Digital Agriculture, Food Safety & Logistics, Food Technology, and Value-Add Products, indicating intent to broaden beyond its first two equipment- and post-harvest-focused bets.

Name

Carrot Ventures

Legal name

Verdex Capital d/b/a Carrot Ventures

Website

https://carrotventures.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Carrot Ventures is a Calgary-based AgTech venture studio (founded 2021, $15M Fund I backed by Verdex Capital and Farm Credit Canada) that co-founds new companies around sourced agricultural IP, recruits experienced CEOs, and leads seed financing. It serves AgTech IP owners, CEO-founders, and syndicate investors, with portfolio companies Susterre Technologies and Cellar Insights.

Ownership category

akta.pro rank

Product category

AgTech Venture Studio Services

NAICS

Other Financial Vehicles (52599)

SIC

Finance Services (6199), Investment Advice (6282)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industry

Corporate LP Programs (Corporate as LP in VC/PE funds) (FSANAHAH)

Keywords

• Venture studio services
• Agricultural technology
• Seed stage investing
• Company formation services
• Equity investments

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Equity ownership in co-founded companies: Carrot Ventures generates returns through significant equity ownership in the new companies they form and finance. They act as lead investor in seed rounds and benefit from equity appreciation as portfolio companies grow and raise subsequent financing rounds.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Carrot Ventures is an AgTech venture studio that sources promising agricultural technologies from IP owners, recruits experienced CEOs, co-founds new companies, and leads seed-stage financing rounds. The studio generates returns through significant equity ownership in the portfolio companies it forms rather than charging fees to IP owners. Its $15M fund (Carrot Ventures Fund I, L.P.) is dedicated to creating and financing startups that commercialize early-stage agricultural innovations.

Product overview

Carrot Ventures operates as a venture studio for agricultural technology, offering company formation and financing services rather than a single unified software product. The core offering is a company formation model that sources defensible AgTech IP, recruits experienced leadership (CEOs), structures and finances new companies, and leads initial seed financing rounds. The portfolio includes two launched companies: Cellar Insights (remote monitoring sensors and predictive algorithms for potato storage) and Susterre Technologies (ultra-high pressure water jet technology for no-till row crop farming). Both portfolio companies represent distinct products commercialized through the Carrot model.

Differentiator

Problem solved

Functional benefit

Products and services

• Carrot Ventures Venture Studio Services End-to-end venture studio offering that sources novel agricultural technologies from IP holders, recruits experienced CEO leadership, forms and structures new companies, and leads seed-stage financing rounds. Targeted at AgTech IP owners, experienced executive candidates, and co-investors.
• Susterre Technologies Inc. Carrot-formed AgTech company commercializing ultra-high pressure fluid jet technology for row crop applications, enabling no-till and cover crop farming by cutting through heavy crop residue and applying agricultural inputs into soil at high ground speed. Aimed at row crop farmers seeking regenerative practices.
• Cellar Insights Inc. Carrot-formed AgTech company providing remotely monitored sensors and cloud-based predictive algorithms that monitor potato health in long-term storage (up to 11 months). Produces management insights to prevent shrinkage, rot, disease, sprouting, and spoilage for potato storage operators.

Quantifiable outcome

• Susterre technology reduces cost of planting by approximately 13%
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Partnerships

Two partnerships are on record, tiered core.

• I-Cubed Industry Innovators Inc.coreTechnology or IntegrationI-Cubed is a custom equipment fabricator based in Stoney Creek, Ontario that developed the original water jet cutting technology for agricultural applications. They are an IP co-owner and technology contributor to Susterre Technologies.
• Hypertherm Inc.coreTechnology or IntegrationHypertherm is a global manufacturer of industrial cutting equipment headquartered in Hanover, New Hampshire. They co-developed the water jet technology with I-Cubed and provided equipment, engineering support, software, and IP protection for the Susterre technology.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• SVG Ventures (THRIVE AgTech): SVG Ventures operates the THRIVE AgTech accelerator and venture fund, the most direct comparable to Carrot Ventures as it also focuses on sourcing, accelerating, and investing in early-stage agricultural technologies with corporate and LP backing.
• Cultivian Sandbox Ventures: Cultivian Sandbox is an AgTech-focused venture fund that invests in and supports early-stage agricultural technology companies, comparable to Carrot in its dedicated AgTech focus and hands-on company-building approach.
• Radicle Growth: Radicle Growth is an AgTech-focused accelerator and fund that provides capital, mentorship, and corporate connections to early-stage agriculture and food startups, directly comparable to Carrot's investor-operated accelerator model.
• The Yield Lab: The Yield Lab operates global AgTech accelerators and a venture fund focused on early-stage sustainable agriculture companies, directly comparable to Carrot's venture studio approach of sourcing and supporting AgTech founders.
• Anterra Capital: Anterra Capital is a venture capital fund dedicated to transforming the food and agricultural sectors through investments in innovative technology companies, comparable to Carrot's mission and AgTech-specialist focus.
• AgFunder: AgFunder is a venture capital platform and news/media brand focused on AgriFoodTech investing, comparable to Carrot as a specialist AgTech investor ecosystem participant.
• Fall Line Capital: Fall Line Capital is a venture capital firm focused on farm and food technology investments, comparable to Carrot as a dedicated AgTech investor with hands-on portfolio support.

Others

• Verdex Capital (AVAC Group): Verdex Capital is the parent of Carrot Ventures and a multi-faceted Canadian venture capital firm. It is relevant as the originating entity, fund manager, and corporate parent providing governance and investor network access.

Emerging players

• Plug and Play AgTech: Plug and Play runs a global corporate accelerator with an AgTech vertical, comparable to Carrot in providing structured company-formation support and corporate partnerships for early-stage agricultural ventures.

Regional players

• Emmertech: Emmertech is a Canadian AgTech-focused venture fund and accelerator, comparable to Carrot as a domestic Canadian AgTech investor with similar geographic focus and LP base drawn from Canadian agriculture finance.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInca.linkedin.com/in/martin-vetter-6aab5015

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carrot Ventures