What Avrio Capital does

Avrio Capital (operating through Avrio Subdebt Inc.) is a Calgary-based private investment firm that provides subordinated debt (subdebt) financing exclusively to Canadian food and agriculture companies. Founded in 2002 as an operating financing program and formally established as Avrio Capital in 2006 by Jim Taylor — formerly the vice president who built Farm Credit Canada's FCC Ventures division — the firm manages $200 million in subdebt commitments and has worked with nearly 60 portfolio companies across crop inputs, food production, nutrition, commercial farming, and value-added processing.

The firm's single core product is highly customizable subordinated debt: interest-bearing financing that sits below senior bank debt in the capital stack, with amortization terms of up to eight years and interest payments timed to match borrower cash flow. Security is subordinated to senior lenders, and pricing is quote-based — explicitly positioned as cheaper than equity dilution but more expensive than conventional bank debt. Use cases include management buyouts, mergers and acquisitions, growth and expansion programs, cross-border ventures, succession plans, and situations where borrowers have limited tangible collateral to offer senior lenders.

Avrio generates revenue through interest and fee income on its subdebt book, distributed through a direct, consultation-based go-to-market channel operated from a single Calgary headquarters via phone, email, and face-to-face engagement with mid-market food and ag borrowers in Canada. The investing team — Jim Taylor (Founder), Daniel McCrimmon (CFO), Denis Boyer (Investment Manager), and Steven Leakos (Investment Professional) — collectively brings prior experience from Farm Credit Canada Ventures, Roynat Capital, Bank of Montreal Capital Corporation, and Ernst & Young. Notable realized exits include Liberte Foods, Pineridge Bakery (approximately 5X return on invested capital), and Kicking Horse Coffee.

Name

Avrio Capital

Legal name

Avrio Subdebt Inc.

Website

https://avriosubdebt.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Avrio Capital (via Avrio Subdebt Inc.) is a Calgary-based private investment firm providing customizable subordinated debt financing to Canadian food and agriculture companies for growth, acquisitions, management buyouts, and cross-border ventures, managing $200M in subdebt commitments.

Ownership category

akta.pro rank

Product category

Subordinated Debt Financing

NAICS

Investment Banking and Securities Intermediation (523150), Credit Intermediation and Related Activities (522)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds) (FSAEALAM)

Keywords

• Subordinated debt financing
• Mezzanine debt lending
• Food agriculture lending
• Private credit solutions
• Growth capital financing

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, Others

Revenue model

1. Subordinated Debt Financing: Provides subordinated debt financing to food and agriculture companies. Revenue generated through interest payments on subordinated debt instruments with terms including amortization of up to 8 years and interest payments matching company cash flow timing.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Avrio Capital provides subordinated debt (subdebt) financing to Canadian food and agriculture companies, offering flexible, patient capital structured around company cash flow. Security is subordinated to senior lenders, amortization can extend up to 8 years, and interest payments are matched to the timing of the borrower's cash flow. The product is used to fund management buyouts, mergers and acquisitions, growth and expansion programs, cross-border ventures, succession plans, and capital needs where limited tangible security is available.

Product overview

Avrio Capital offers a single core product: Subordinated Debt (Subdebt) Financing specifically designed for food and agriculture companies in Canada. This financing solution supports growth, acquisitions, management buyouts, cross-border ventures, succession plans, and capital requirements when limited tangible security is available. The company manages $200,000,000 in subordinated debt commitments and has been active since 2002, working with nearly 60 companies in the sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Subordinated Debt (Subdebt) Financing A highly customizable financing solution for Canadian food and agriculture companies, providing flexible, patient capital on terms that support company cash flow. Security is subordinated to that of a senior lender, amortization may extend to up to 8 years, and interest payments are matched to the timing of the borrower's cash flow. Used to fund management buyouts, mergers and acquisitions, growth and expansion programs, cross-border ventures, succession plans, and capital needs where little tangible security is available.

Quantifiable outcome

• Nearly 60 companies served since 2002
• +1 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Ernst & YoungminorOthersDaniel McCrimmon was a manager with Ernst & Young in the taxation group managing multinational engagement teams. Historical employer relationship.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Farm Credit Canada: Canada's primary federal agricultural lender, providing the full spectrum of debt capital to farm and food businesses. Directly comparable to Avrio because Avrio's founders built FCC Ventures (FCC's growth equity/VC arm), and FCC's loan book shapes the senior stack that Avrio's subordinated debt sits beneath.
• BDC Capital (Growth & Transition Capital): Canada's business development bank, providing subordinated/mezzanine and growth capital to mid-market companies across sectors. Comparable as the dominant Crown-backed alternative capital provider that competes directly with Avrio for Canadian mid-market borrowers.
• BMO Capital Partners: Private equity arm of Bank of Montreal and former employer of Avrio founder Jim Taylor. Comparable as a large Canadian incumbent offering mezzanine/private equity to mid-market operators including food and ag.

Direct peers

• Roynat Capital: Canadian mid-market mezzanine and equity capital provider where Avrio Investment Professional Steven Leakos spent a decade. Closely comparable in product (mezzanine/sub debt), geography (Canada), and target (mid-market operators), making it a natural substitute and a model for Avrio's growth trajectory.
• Tandem Capital Partners: Canadian small-cap private equity firm with dedicated exposure to agri-food and consumer products. Comparable as a similarly sized Canadian food/ag capital provider pursuing operating founder partnerships via tailored non-control capital structures.
• Clairvest Group: Toronto-based mid-market private equity and merchant banking firm with a long track record in food, beverage, and ag-related businesses. Comparable because both firms provide flexible, non-control capital to Canadian mid-market operators across cycles.
• Pender Fund Capital / Pender Ventures: Canadian alternative asset manager deploying small-cap equity and private credit into growth-stage operators. Comparable due to overlapping mid-market Canadian origination footprint and use of non-bank capital structures.

Emerging players

• Northstar Agriculture Capital: Specialty Canadian agricultural private credit fund manager focused on senior loans to agriculture borrowers. Comparable emerging private credit peer pursuing a similar vertical-specialist strategy in adjacent ag credit.

Regional players

• Pembina Capital Inc. Western Canada-focused merchant bank targeting small/mid-market agricultural and food operators. Comparable as another regional practitioner of bespoke non-control capital in the same Canadian Prairies agri-food ecosystem.

Others

• Export Development Canada: Canadian Crown corporation providing trade and direct lending solutions to exporters, including many food/ag operators. Comparable as an institutional capital provider whose mandate overlaps with the cross-border ventures segment Avrio actively finances.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/avriocapital
• LinkedInlinkedin.com/company/avrio-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments29 records

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

Frequently asked questions about Avrio Capital